Description
Economics is a social science that deals with the production, distribution, and consumption of goods and services. Economics focuses heavily on the four factors of production, which are land, labor, capital, and enterprise. These are the four ingredients that make up economic activity in our world today and can each be studied individually.
Additional information
Learners are guided towards developing the following knowledge, skills, and attitudes:
- acquiring and applying essential business knowledge, skills, and principles to productively and profitably conduct business in changing business environments.
- Students achieve a deeper understanding of microeconomics and macroeconomics.
- Dynamics of markets: perfect markets, imperfect markets, market failures.
- Economic growth and development: industrial development policies, how inflation affects economic growth, and GDP.
- Committing to developing themselves and others through business opportunities and ventures.
- securing formal employment, and are in a position to pursue sustainable entrepreneurial and self-employment.
