Podcast
Questions and Answers
What is the expected outcome of having a strong work ethic?
What is the expected outcome of having a strong work ethic?
What is a common characteristic of transferable skills?
What is a common characteristic of transferable skills?
What is an example of a transferable skill?
What is an example of a transferable skill?
Which of the following is an example of a hard skill?
Which of the following is an example of a hard skill?
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What differentiates hard skills from transferable skills?
What differentiates hard skills from transferable skills?
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What is a key component of financial responsibility that involves managing debt, including credit cards, loans, and mortgages?
What is a key component of financial responsibility that involves managing debt, including credit cards, loans, and mortgages?
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What is the role of education in improving financial competence?
What is the role of education in improving financial competence?
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What type of values are unique to an individual and influence their behavior, goals, and relationships?
What type of values are unique to an individual and influence their behavior, goals, and relationships?
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What is a role of values in decision-making?
What is a role of values in decision-making?
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What is a fundamental aspect of financial understanding?
What is a fundamental aspect of financial understanding?
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What does P.A.Y.E stand for?
What does P.A.Y.E stand for?
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What happens to your income tax with P.A.Y.E?
What happens to your income tax with P.A.Y.E?
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What percentage of social media users feel more anxious after using social media for more than 2 hours a day?
What percentage of social media users feel more anxious after using social media for more than 2 hours a day?
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What percentage of 16 to 25 year-olds say that social media creates an overwhelming pressure to succeed?
What percentage of 16 to 25 year-olds say that social media creates an overwhelming pressure to succeed?
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What can social media users do to avoid the negative effects of highlight reels?
What can social media users do to avoid the negative effects of highlight reels?
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What is the result of managing online reputation and maintaining a positive image?
What is the result of managing online reputation and maintaining a positive image?
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What does FOMO stand for?
What does FOMO stand for?
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What is a strategy for preventing online harassment?
What is a strategy for preventing online harassment?
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What is the process of decision making characterized by?
What is the process of decision making characterized by?
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Where do impulses originate from?
Where do impulses originate from?
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What defines the private sector in an economy?
What defines the private sector in an economy?
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What is the public sector primarily concerned with?
What is the public sector primarily concerned with?
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What is a key component of the economy of a country or region?
What is a key component of the economy of a country or region?
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What is the definition of inflation?
What is the definition of inflation?
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What can be used to measure inflation?
What can be used to measure inflation?
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What does Gross Domestic Product (GDP) primarily measure?
What does Gross Domestic Product (GDP) primarily measure?
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What does the 'A' in DR ABC stand for?
What does the 'A' in DR ABC stand for?
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What should you do to an unresponsive person who is breathing normally?
What should you do to an unresponsive person who is breathing normally?
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What is a characteristic of a passive person, when it comes to sharing opinions?
What is a characteristic of a passive person, when it comes to sharing opinions?
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What is the main trait of an aggressive person when expressing opinions?
What is the main trait of an aggressive person when expressing opinions?
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What tone is often used in passive-aggressive communication?
What tone is often used in passive-aggressive communication?
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What does assertive communication involve?
What does assertive communication involve?
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What is the sequence of the four levels of drug use, from least severe to most severe?
What is the sequence of the four levels of drug use, from least severe to most severe?
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What is the key feature of addiction that makes it a chronic condition?
What is the key feature of addiction that makes it a chronic condition?
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What is a key factor in determining an individual's likelihood of developing an addiction?
What is a key factor in determining an individual's likelihood of developing an addiction?
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What is a characteristic of illegal Class A drugs?
What is a characteristic of illegal Class A drugs?
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What is the classification of cannabis in terms of drug use?
What is the classification of cannabis in terms of drug use?
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Why is alcohol addiction more socially acceptable?
Why is alcohol addiction more socially acceptable?
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In which region is cannabis native to?
In which region is cannabis native to?
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What is a risk of mixing depressants with other drugs?
What is a risk of mixing depressants with other drugs?
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What is the effect of a hallucinogenic drug?
What is the effect of a hallucinogenic drug?
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What is a common health risk associated with psychoactive substances?
What is a common health risk associated with psychoactive substances?
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Why are psychoactive substances often associated with dangerous effects?
Why are psychoactive substances often associated with dangerous effects?
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Study Notes
Work Ethic
- Refers to a belief in the moral benefit and importance of work
- Emphasizes the inherent ability of work to strengthen character
- Implies that work has a positive impact on an individual's moral values and personal development
Transferable Skills
- A transferable skill is an ability or expertise that can be applied in various roles or occupations.
- Examples of transferable skills include:
- Hardworking: being diligent and industrious in completing tasks.
- Patience: remaining calm and composed in challenging situations.
- Customer Service: providing excellent assistance and support to clients.
- Teamwork: collaborating and working effectively with others towards a common goal.
- Organisation: planning and structuring tasks to achieve efficiency.
- Time Keeping: managing time effectively to meet deadlines and schedules.
Hard Skills
- Definition: Opposite of transferable skills, specific to certain job roles
- Examples of hard skills include:
- CAD Software Skills
- Bookkeeping
- Cloud Architecture
- Coding
- Foreign language skills
Defining Financial Responsibility
- Financial responsibility is the ability to manage one's finances in a way that is responsible, sustainable, and aligns with long-term goals.
- It involves making informed decisions about earning, saving, investing, and spending money.
Key Components of Financial Responsibility
- Budgeting involves creating a plan for how to allocate income towards expenses, savings, and debt repayment.
- Saving involves setting aside a portion of income for short-term and long-term goals.
- Investing involves using money to generate more money through investments, such as stocks or real estate.
- Debt Management involves managing debt, including credit cards, loans, and mortgages, to minimize interest and fees.
- Financial Planning involves creating a long-term plan for achieving financial goals, such as retirement or buying a home.
Characteristics of Financially Responsible Individuals
- They live below their means, avoiding overspending and prioritizing needs over wants.
- They prioritize needs over wants, distinguishing between essential expenses and discretionary spending.
- They make smart financial decisions, considering long-term consequences of financial choices.
- They avoid debt, minimizing debt and creating a plan to pay off existing debt.
- They build an emergency fund, saving 3-6 months' worth of expenses in case of unexpected events.
Benefits of Financial Responsibility
- It reduces financial stress, feeling more in control of one's finances.
- It increases savings, building a safety net for the future.
- It improves credit score, demonstrating responsible financial behavior.
- It helps achieve long-term goals, making progress towards financial objectives, such as buying a home or retiring comfortably.
- It increases financial independence, having the freedom to make choices about how to use one's money.
Definition of Financial Competence
- Financial competence is the ability to make informed, effective, and responsible financial decisions that promote financial well-being.
- It involves having the knowledge, skills, and attitudes necessary to manage one's financial resources wisely.
Key Components of Financial Competence
- Financial knowledge: understanding of personal finance concepts, such as budgeting, saving, investing, and credit management.
- Financial skills: ability to apply financial knowledge to real-life situations, such as creating a budget, managing debt, and making smart investment decisions.
- Financial attitudes: responsible and informed attitudes towards money, such as avoiding impulse purchases, prioritizing needs over wants, and being patient and disciplined in financial decision-making.
Importance of Financial Competence
- Financial competence is critical for achieving financial stability, security, and independence.
- Individuals with high financial competence tend to experience lower levels of financial stress and anxiety.
- Financially competent individuals are more likely to achieve their financial goals, such as saving for retirement, paying off debt, and building wealth.
Factors Influencing Financial Competence
- Education: formal education and financial literacy programs can improve financial competence.
- Experience: hands-on experience with financial decision-making can also improve financial competence.
- Cultural and social factors: cultural and social norms, values, and beliefs can influence financial attitudes and behaviors.
Developing Financial Competence
- Financial education: providing access to financial education and literacy programs can help improve financial competence.
- Practice and experience: encouraging individuals to take control of their finances and make informed decisions can help build financial competence.
- Feedback and support: providing feedback and support from financial professionals, mentors, or peers can help individuals develop their financial competence.
Morality
- Refers to principles and values that guide an individual's behavior and decision-making, distinguishing right from wrong
Types of Morality
- Descriptive morality: studies moral beliefs and practices of individuals or groups
- Normative morality: concerned with establishing moral principles and rules that should govern behavior
- Applied morality: applying moral principles to specific issues or problems
Moral Theories
- Consequentialism: moral rightness of an action depends on its consequences
- Deontology: moral rightness of an action depends on its adherence to rules and duties
- Virtue Ethics: moral character of an individual is the primary focus
Moral Development
- Lawrence Kohlberg's Theory: proposes six stages of moral development, ranging from obedience to universal ethical principles
- Carol Gilligan's Theory: emphasizes the role of care and empathy in moral development, particularly in females
Moral Relativism vs. Moral Absolutism
- Moral Relativism: moral judgments are relative to cultural, historical, or personal contexts
- Moral Absolutism: moral judgments are absolute and universal, applying regardless of context
Definition of Values
- Values are beliefs or principles that guide an individual's or organization's behavior, decision-making, and goals.
- They are abstract and intangible, but have a significant impact on attitudes and actions.
Types of Values
- Personal values are unique to an individual, influencing their behavior, goals, and relationships.
- Cultural values are shared by a group of people, shaping their customs, traditions, and beliefs.
- Organizational values are guiding principles of an organization, influencing its mission, goals, and interactions.
Characteristics of Values
- Intrinsic values are considered important in and of themselves, rather than for external reasons.
- Universal values are often considered to be universally applicable, regardless of context or culture.
- Enduring values are relatively stable over time, despite changes in circumstances.
Importance of Values
- Values guide decision-making, helping individuals and organizations make choices that align with their principles and goals.
- Values influence behavior, shaping attitudes and actions, leading to consistent behavior and a sense of purpose.
- Shared values build trust and cooperation among individuals and groups.
Value Conflicts
- Intra-personal conflicts arise between an individual's personal values and goals.
- Inter-personal conflicts arise between individuals with different values and goals.
- Organizational conflicts arise between an organization's values and goals, or between different stakeholders.
Value Development
- Values are shaped through socialization, cultural norms, and family influences.
- Personal growth can lead to changes in values over time through experiences, reflection, and self-awareness.
- Cultural transmission passes values down through generations, influencing cultural norms and traditions.
Financial Understanding
- A bank account is a safe place to store money, allowing for easy access and management of finances.
- It's a fundamental tool for personal financial management, enabling individuals to receive and make payments, save, and budget.
- Money can come from various sources, including:
- Earnings from a job or business
- Gifts or inheritances
- Loans or credit
- Selling assets or possessions
- Money can go towards:
- Everyday expenses, such as food, housing, and transportation
- Savings and investments for future goals
- Debt repayment, including credit cards and loans
- Leisure activities, such as entertainment and travel
P.A.Y.E (Pay-As-You-Earn)
- P.A.Y.E stands for PAY-AS-YOU-EARN
- With P.A.Y.E, income tax is automatically deducted
Social Media Addiction and Mental Health
- Social media is more addictive than cigarettes and alcohol for young people
- Increased social media use among females is linked to increased concerns about their own body image
Social Media Use and Sleep Quality
- Increased social media use is significantly linked to poor sleep quality
- Poor sleep quality is a precursor to mental health issues
Anxiety and Social Media Use
- 80% of social media users feel more anxious after using social media for more than 2 hours a day
- 70% of social media users have experienced some form of cyberbullying
- 36% of users experience cyberbullying on a high-frequency basis
Social Pressure and Inadequacy
- 57% of 16 to 25-year-olds say social media creates an "overwhelming pressure to succeed"
- 46% think that comparing their lives to others on social media makes them feel inadequate
Anxiety about the Future
- 48% of users say they feel "more anxious about their future" when seeing the lives of their friends online
The Impact of Social Media on Self-Comparison
- Social media platforms showcase only the highlight reels of people's lives, presenting a curated version of their experiences.
- This limited and biased representation of others' lives can lead to unrealistic comparisons with our own lives.
- Constantly comparing ourselves to others can foster feelings of inadequacy, low self-esteem, and dissatisfaction with our own lives.
What is Social Currency?
- Social currency refers to the value that accrues to individuals or groups from their participation in online communities and social networks.
- It encompasses social prestige, influence, and reputation gained from online activities.
Types of Social Currency
- Reputation: Esteem in which an individual is held by others in the online community.
- Influence: Ability to affect the actions and opinions of others in the online community.
- Network: Size and quality of an individual's online connections.
- Content: Value of the content created and shared by an individual in the online community.
How is Social Currency Earned?
- Participation: Actively engaging in online communities and discussions to earn social currency.
- Content creation: Creating and sharing valuable, relevant, and consistent content to build social currency.
- Engagement: Interacting with others, liking, commenting, and sharing their content to earn social currency.
- Thought leadership: Providing unique insights, expertise, and perspectives to establish thought leadership and earn social currency.
Benefits of Social Currency
- Increased influence: Ability to shape opinions and drive actions with earned social currency.
- Improved reputation: Enhanced professional and personal reputation through earned social currency.
- Access to opportunities: Invitations to collaborations, speaking engagements, and business opportunities through earned social currency.
- Networking: Expanded professional and personal network through earned social currency.
Challenges of Social Currency
- Time and effort: Building social currency requires consistent effort and time.
- Authenticity: Maintaining authenticity and transparency in online interactions to build trust and credibility.
- Reputation management: Managing online reputation and maintaining a positive image to protect social currency.
- Information overload: Managing the vast amount of information and noise in online communities to stay focused and relevant.
Fear of Missing Out (F.O.M.O)
- F.O.M.O stands for Fear Of Missing Out
- It is the anxiety or apprehension caused by the feeling of being left out or missing social events, experiences, or opportunities
- F.O.M.O arises from the fear of not being part of something that others are doing or experiencing
Definition and Types
- Online harassment is unwanted and offensive behavior targeted towards an individual or group through digital platforms.
- Types of online harassment include:
- Cyberbullying: repeated and intentional harassment towards an individual, often among minors.
- Cyberstalking: using technology to monitor and track someone's online activities.
- Trolling: posting inflammatory or off-topic comments to provoke emotional responses.
- Online hate speech: promoting or inciting hate or violence towards a group based on race, gender, religion, or other characteristics.
Prevalence and Impact
- 1 in 4 women and 1 in 10 men experience online harassment.
- Online harassment can lead to:
- Emotional distress and anxiety.
- Social isolation.
- Decreased self-esteem.
- Fear of online participation.
Perpetrators and Motivations
- Perpetrators may be anonymous, acquaintances, or strangers.
- Motivations for online harassment include:
- Psychological factors: enjoyment of power and control, anonymity, and lack of empathy.
- Social factors: peer pressure, groupthink, and social norms.
- Revenge or retaliation.
Platforms and Environments
- Common platforms for online harassment include:
- Social media (Facebook, Twitter, Instagram).
- Online gaming communities.
- Forums and discussion boards.
- Environments conducive to online harassment include:
- Anonymity and lack of moderation.
- Power imbalances and hierarchical structures.
- Permissive or tolerant attitudes towards harassment.
Prevention and Intervention
- Strategies for preventing online harassment include:
- Implementation of community guidelines and moderation.
- Education and awareness campaigns.
- Encouraging empathy and respectful online interactions.
- Intervention strategies include:
- Blocking and reporting tools.
- Support systems for victims (counseling, hotlines).
- Legal action and law enforcement involvement.
Decision Making Process
- Decision making is a competitive process between two systems: the emotion system and the reason system.
- The emotion system is automatic, indicating that it operates quickly and instinctively.
- However, the emotion system is prone to error, suggesting that it may lead to impulsive or biased decisions.
- The reason system, on the other hand, is slow, implying that it requires more time and effort to operate.
- Despite being slower, the reason system is rational, meaning it is more logical and objective in its decision-making approach.
The Reason System
- The reason system is responsible for controlling impulses
- It is located in the "head"
- It counteracts impulsive decisions by overriding snap judgments
- It reins in impulses that originate from the "heart"
Private Sector
- Refers to the part of the economy owned by private groups or individuals
- Can be operated for profit or non-profit purposes
- Distinguished by not being owned by the government
Public Sector
- Refers to the part of the economy that consists of two main components: public services and public enterprises.
Economy Definition
- The economy refers to the state of a country or region in terms of its economic activity.
- It encompasses the production and consumption of goods and services.
- The economy also involves the supply of money, which facilitates transactions and economic growth.
Inflation
- Inflation is a general progressive increase in prices of goods and services in an economy.
- It results in a rise in the general price level.
- As a result of inflation, each unit of currency buys fewer goods and services.
- Inflation leads to a reduction in the purchasing power of money.
Gross Domestic Product (GDP)
- GDP measures the size and health of a country's economy over a specific period of time.
- The typical time period for GDP measurement is one quarter or one year.
- GDP allows for comparison of the size of different economies at a particular point in time.
DR ABC
- DR ABC stands for Danger, Response, Airway, Breathing, and Circulation
- It is a sequence of steps to follow in a medical emergency
Response Assessment
- The AVPU scale is used to assess a person's level of consciousness
- The AVPU scale stands for Alert, Voice, Pain, and Unresponsive
- Alert refers to a person who is fully awake and aware
- Voice refers to a person who responds to verbal commands
- Pain refers to a person who responds to painful stimuli
- Unresponsive refers to a person who shows no response to any stimuli
Care for an Unresponsive Person
- An unresponsive person who is breathing normally should be placed in the recovery position
DR ABC
- DR ABC stands for Danger, Response, Airway, emphasizing the importance of assessing a patient's airway in emergency situations.
- The acronym serves as a reminder of the initial steps to take when responding to a medical emergency.
Communication
- Passive communication is characterized by withholding one's thoughts, feelings, and opinions.
- In passive communication, an individual's wants, needs, desires, and opinions are not shared or expressed.
Communication Style: Aggressive
- Characterized by sharing one's wants, needs, desires, or opinions at the expense of someone else's feelings or well-being.
Communication Styles
- Passive-aggressive communication combines indirect and aggressive communication styles.
- In passive-aggressive communication, opinions, wants, and needs are not expressed directly.
- Instead, they are hidden or conveyed in a way that can be hurtful to others.
- The tone of passive-aggressive communication often appears joking or sarcastic, but can be damaging to relationships.
Communication Styles
- Assertive communication involves being honest and direct when expressing one's wants, needs, desires, and opinions.
- It requires showing respect for the other person while being clear and straightforward in one's message.
Levels of Drug Use
- There are four recognized levels of drug use, each with distinct characteristics.
Level 1: Experimental User
- Characterized by occasional and casual drug use, often driven by curiosity or peer pressure.
Level 2: Recreational User
- Drug use is frequent, but still controlled, and often used to enhance social or recreational activities.
Level 3: Dependent User
- User has developed a physical or psychological dependence on the drug, and may experience withdrawal symptoms when trying to quit.
Level 4: Problem User
- Drug use is compulsive and uncontrolled, leading to significant negative consequences on daily life, relationships, and health.
Definition of Addiction
- Addiction is a complex and chronic condition
- Characterised by the compulsive use of a substance or engagement in a behaviour
- Despite potentially harmful consequences
Factors Influencing Addiction
- The development of addiction is influenced by a combination of three main factors: genetic, environmental, and psychological factors.
- Genetic factors can contribute to an individual's susceptibility to addiction.
- Underlying mental health conditions can also make an individual more susceptible to addiction.
Definition and Classification
- Illegal Class A drugs are highly addictive and have a high potential for abuse.
- Examples of illegal Class A drugs include heroin, cocaine, ecstasy (MDMA), LSD, and magic mushrooms.
Effects of Illegal Class A Drug Addiction
- Physical effects:
- Dependence and withdrawal symptoms occur.
- Risk of overdose and death increases.
- Organs and tissues (e.g. heart, liver, kidneys) are damaged.
- Malnutrition and weight loss occur.
- Psychological effects:
- Anxiety and depression develop.
- Paranoia and hallucinations occur.
- Aggressive behavior and mood swings increase.
- Memory and cognitive impairment result.
- Social effects:
- Financial problems and debt increase.
- Family and friends' relationships become strained.
- Legal problems and criminal activity occur.
- Homelessness and social isolation increase.
Risk Factors for Illegal Class A Drug Addiction
- Environmental factors:
- Poverty and lack of opportunities contribute to addiction.
- Early exposure to drug use increases risk.
- Family history of addiction is a factor.
- Peer pressure and social influence contribute to addiction.
- Individual factors:
- Mental health conditions (e.g. depression, anxiety) increase risk.
- Trauma and stress contribute to addiction.
- Low self-esteem and self-confidence increase risk.
- Genetic predisposition is a factor.
Signs and Symptoms of Illegal Class A Drug Addiction
- Physical signs:
- Track marks or injection scars appear.
- Slurred speech and coordination problems occur.
- Unexplained absences or behavioral changes occur.
- Unusual odors or substances are present.
- Behavioral signs:
- Secrecy and dishonesty about drug use occur.
- Increased borrowing or stealing of money occurs.
- Changes in appetite or sleep patterns occur.
- Neglect of responsibilities and hobbies increases.
Treatment and Recovery Options
- Detoxification programs are available.
- Medication-assisted therapy (e.g. methadone, buprenorphine) is used.
- Behavioral therapies (e.g. cognitive-behavioral therapy, contingency management) are effective.
- Support groups (e.g. Narcotics Anonymous) are available.
- Residential rehabilitation programs are an option.
- Outpatient counseling and therapy are available.
Cannabis Addiction
- Cannabis is considered a socially acceptable illegal drug to use, compared to some Class A drugs.
- Despite being illegal, cannabis has recognized health benefits for some individuals.
Illegal Class C Drug Addiction
- Nicotine addiction is a common issue among smokers, who often experience a temporary sense of stress relief after smoking a cigarette.
Substance Addiction
- Alcohol is a widely available and socially acceptable drug, despite having an age restriction for usage.
- Prescription drugs can provide a range of benefits, including pain relief, numbness, and a feeling of detachment from one's body.
Behavioural Addiction
- Gambling addiction can activate the brain's reward system, resulting in the release of dopamine and potential long-term negative consequences.
Digital Addiction
- Social media usage can have a negative impact on both mental health and offline social behaviour.
What is Cannabis?
- Cannabis is a plant species belonging to the Cannabaceae family.
- It is native to Central Asia.
- Cannabis has been cultivated for thousands of years for various purposes.
- The plant contains several chemical compounds known as cannabinoids.
- The two most notable cannabinoids are:
- Delta-9-tetrahydrocannabinol (THC)
- Cannabidiol (CBD)
- Cannabis is also commonly referred to as marijuana.
Depressants
- Depressants slow down the central nervous system (CNS), reducing excitement, anxiety, and stress.
Types of Depressants
- Benzodiazepines include alprazolam (Xanax), diazepam (Valium), and clonazepam (Klonopin).
- Barbiturates include phenobarbital and pentobarbital.
- Sedatives include ethanol (alcohol) and gamma-hydroxybutyric acid (GHB).
- Opioids include heroin, morphine, and codeine, which can also have stimulant effects.
Effects of Depressants
Short-term Effects
- Drowsiness and relaxation occur due to depressants.
- Anxiety and stress are reduced by depressants.
- Slurred speech and impaired coordination are caused by depressants.
- Depressants decrease heart rate and blood pressure.
Long-term Effects
- Depressants can lead to dependence and addiction.
- Tolerance develops, requiring higher doses of depressants.
- Withdrawal symptoms occur when stopping or reducing depressant use.
- Cognitive impairment and memory loss are long-term effects of depressants.
Risks and Consequences
- Overdose can cause slowed breathing, coma, and death.
- Depressants interact dangerously with other drugs, especially opioids and alcohol.
- Withdrawal from depressants can cause seizures, delirium, and suicidal thoughts.
- Depressants can impair relationships, work, and daily activities.
Legal and Social Aspects
- Many depressants are prescription-only and regulated by law.
- Illegal possession, distribution, and use of depressants can lead to criminal charges.
- Users of depressants may face social stigma and judgment from others.
Hallucinogens
- Hallucinogenic substances alter the user's perception of reality, making them see things that may not be present.
- Acid is a type of hallucinogenic substance.
Psychoactive Substances
- Psychoactive substances, also known as 'legal highs', are capable of affecting a person's mental functioning or emotional state.
- They are not currently controlled as a class A, B, or C drug, despite mimicking the effects of illegal drugs.
- These substances can be dangerous, unpredictable, and pose serious health risks.
- Examples of substances associated with dangerous effects and health risks include:
- Synthetic cannabinoids (sold as "Spice" or "K2")
- Synthetic cathinones (commonly known as "bath salts")
- Certain psychoactive substances marketed as legal alternatives to drugs like MDMA or LSD.
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Test your understanding of the concept of work ethic, its importance, and its impact on personal character. Learn about the moral benefits of hard work and dedication.