User:Taukave/OER

Resources

Outcomes

By the end of this unit, students should be able to:

1. Identify different types of resources

2. Explain the concept of scarcity of resources

3. Differentiate between needs and wants

Personal/Family Budgeting

Outcomes

By the end of this unit, students should be able to:

1. Define essential terminology in budgeting.

2. Identify various components of the personal/family budget.

3. Explain the importance of preparing a budget.

4. Prepare a personal/family budget.

5. Calculate a balance budget, surplus budget and a deficit budget.

6. Explain and demonstrate the importance of keeping financial documents.

Contents

Essential terminologies

Lesson 1: Terminologies

Coverage: Personal budget, family budget, income, expenditure, fixed expenses, variable expenses, surplus, saving, deficit and balance.

Components of the personal/family budget

Lesson 1: Income

Lesson 2: Expenditure (Fixed Expenses & Variable Expenses)

Lesson 3: Budget Outcomes

Importance of having a budget

Lesson 1: Advantages of having a budget

Preparation of the personal/family budget

Lesson 1: Practical work

Calculations of budget outcomes

Lesson 1: Practical work

Financial documents

Lesson 1: Source documents

Coverage: Cash register tapes, receipts, Cheque butts, payment vouchers and bank statement.

Starting a small business

Outcomes

By the end of this unit, students should be able to:

1.