EMS

Goods and Services

• Goods and services are used to satisfy needs and wants.
• Goods are physical products produced to satisfy needs and wants, can be seen, used, and touched, and are also called tangible items.
• Examples of goods include sugar, television sets, sweets, and tables.
• Services are work done for someone in exchange for money, using a person's skills or knowledge, and cannot be seen or touched, making them non-tangible or intangible.
• Examples of services include legal services, consultations with a doctor, and hairdressing.

Perishable and Non-Perishable Goods

• Perishable goods are goods that must be used in a specific time, have an expiry date, and examples include meat, milk, fresh vegetables, and fruit.
• Non-perishable goods are goods that do not have an expiry date, can potentially last a very long time, and examples include toys, cars, and clothes.

Producers

• Producers are people or businesses that use resources to produce goods or provide services to meet people's needs and wants.
• Producers operate in different sectors, including the primary, secondary, and tertiary sectors.

Sectors of the Economy

• Primary sector: the first level of the economy, where natural resources are used directly, and examples include fisheries, forestry, and agriculture.
• Secondary sector: the second level of the economy, where raw materials are used to produce final goods, and examples include jewelry production, processed food, and furniture factories.
• Tertiary sector: the third level of the economy, where goods and services are provided to the general public, and examples include furniture stores, clothing stores, and personal services like hairdressers and doctors.

Consumers

• Consumers are individuals, households, companies, and government institutions that buy or use goods and services to satisfy their needs and wants.
• Consumers are interdependent because they compete for the limited resources available.

Households

• A household is a group of people living together under one roof, buying goods and using services.
• Households play a crucial role in the economic cycle, being consumers, providing labor, and providing entrepreneurial knowledge.
• Households can also be producers, working in businesses and the government, selling their labor, and producing their own goods and services.

Efficient and Effective Use of Goods

• A healthy environment requires a balance between the use of natural resources and production.
• Everyone should focus on providing more goods and services while using less natural resources.
• The production process must be more environmentally friendly, using cleaner production methods and technology to create more opportunities for small businesses and "green" jobs.
• Recycling and reusing goods are essential to prevent waste and judiciously use resources.

Recycling and Reuse of Goods

• Certain goods are non-renewable, meaning they cannot be imitated or replaced once they are used up.
• Ways to recycle or reuse goods include donating, buying used or second-hand goods, and repairing damaged goods.
• The 3Rs of sustainable use are: Reuse, Reduce, and Recycle.

Goods and Services

• Goods are physical products produced to satisfy needs and wants, such as sugar, television sets, and tables.
• Services are work done for someone in exchange for money, using skills or knowledge, such as legal services, consultations with a doctor, and hairdressing.

Types of Goods

• Perishable goods are goods that must be used within a specific time, such as meat, milk, and fresh vegetables and fruit.
• Non-perishable goods are goods that do not have an expiry date and can potentially last a long time, such as toys, cars, and clothes.

Producers

• Producers are people or businesses that use resources to produce goods or provide services to meet people's needs and wants.
• Producers operate in different sectors, including:
  • Primary sector: uses natural resources directly, such as fisheries, forestry, and agriculture.
  • Secondary sector: uses raw materials to produce final goods, such as jewelry production, processed food, and butchery.
  • Tertiary sector: provides goods and services to the general public, such as distribution of goods to trading companies, furniture stores, and provision of personal services.

Consumers

• Consumers are individuals, households, companies, and government institutions that buy or use goods and services to satisfy their needs and wants.
• Consumers are interdependent, competing for limited resources.

Households

• Households are groups of people living together, buying goods and using services.
• Households play a role in the economic cycle, providing labor, entrepreneurial knowledge, and consuming goods and services.

Efficient Use of Goods

• A healthy environment requires a balance between the use of natural resources and production.
• The production process should be more environmentally friendly, using cleaner methods and technology to create more opportunities for small businesses and "green" jobs.

Recycling and Reuse of Goods

• Certain goods are non-renewable, meaning they cannot be replaced once they are used up.
• Ways to recycle or reuse goods include:
  • Giving away goods to people who need them.
  • Buying used or second-hand goods.
  • Repairing damaged goods.
• The 3Rs of sustainable use: Reuse, Reduce, and Recycle.

Socio-Economic Imbalance

• Causes of socio-economic imbalance include:
  • Apartheid policy, which divided people into groups based on race.
  • Poverty, which is a lack of basic needs and services.
  • Unemployment, which leads to social imbalance and crime.
  • Access and quality of education, which is affected by poverty and lack of resources.

Addressing Inequality

• Laws and policies that address inequality, such as:
  • The Fair Employment Act of 1998, which prohibits discrimination and unfair labor practices.
  • Black Economic Empowerment (BEE) and Broad-based Black Economic Empowerment (BBBEE) from 2003, which promotes ownership of businesses by including blacks.
  • The Skills Development Act of 1998, which encourages businesses to offer education and training in the workplace.
• Government initiatives to address inequalities and injustices, such as:
  • Improving education, including access to quality education and reducing the number of learners who leave school prematurely.
  • Improving infrastructure in poor schools, including facilities such as libraries, laboratories, and sports fields.
  • Establishing school feeding schemes, improving textbook supplies, and building new schools.

Sustainable Job Opportunities

• Strategies to create sustainable jobs, including:
  • Promoting entrepreneurship and new businesses.
  • Encouraging existing businesses to grow and expand.
  • Encouraging manufacturing businesses.
  • Improving infrastructure, such as quality roads, water and sanitation, electricity supply, safety, and security.