NAME: SIBABALO
SURNAME:BOOI
STUDENT NUMBER: 217043607
OFFICE NUMBER: ROOM 4.1
PHONE NUMBER& EMAIL: 0710212640/ 217043607@MYCPUT.AC.ZA
CONSULTATION TIMES: 11H00 - 12H30 (TUESDAY) AND 08H00 - 10H00 (THURSDAY)
Introduction
Good day Grade 10 !!
Today we will be focusing on Business Sectors as the topic of the day, however we will distinguish between the sectors which will be Formal sectors and Informal sectors. Secondly i will give you some notes in order to complete the given Task after the lesson.
How much do you know about Business Sector?
What is the difference between Formal Sector and Informal sector?
- Keep those question question in mind they will help you on the following Task.
Task
1) Define Formal sector and Informal sector? (4)
2) Distinguish between Public sector and Private sector, give relevant examples. (4)
3. Fill in the missing words on the following sentences. (employment , official , profit, fixed)
3.1 The purpose of businesses in this sector is to make _________. (1)
3.2 Businesses in formal sector must have _________ premises and offer _________ to more than one worker. (2)
3.3 ___________ are not registered businesses and they do not contribute anything to the Gross Domestic Product of the country.(1)
3.4 It is difficult for informal sector to receive loan because there is no __________ record of income. (1)
Process
BUSINESS SECTOR GRADE 10
NOTES
1 Formal sector - The formal business sector is all businesses which are formally registered to operate under an known form of business ownership. Forms of ownership include companies, partnerships, close corporations or sole proprietors.
• The purpose of businesses in this sector is to make profit.
• Businesses in the formal sector are registered with SARS for tax and contribute to the GDP (Gross Domestic Product) of the country.
• They are registered with the department of labor to pay UIF (to the unemployment insurance fund).
• Businesses in this sector have fixed premises and offer employment to more than one worker. 2 Informal sector
• These businesses are not registered and do not contribute to the GDP of the country.
► Informal sector
• These businesses are not registered and do not contribute to the GDP of the country.
• The purpose of businesses in the informal sector is survival.
• It is difficult to get loans or credit facilities because there is no official record of income.
• Informal businesses should by law declare income for tax and register employees.
► Private Sector
• The private sector involve all businesses that are privately owned.
• Examples include businesses owned privately as sole traders, partnerships or companies with a profit motive.
• The businesses are focused to meet the demand of consumers.
• Businesses in this sector that do not operate to make profit are NGO's and NPO's.
► Public Sector
• Funding is generated by tax.
• Some departments do not operate as businesses.
• The departments in this sector exist to meet the demand of social and civil rights such as healthcare, education and protection.
• The motive of the public sector businesses is not to make profit but offer a service.
Evaluation
BUSINESS STUDIES GRADE 10 MEMORANDUM
1. Formal sector - The formal business sector is all businesses which are formally registered to operate under an known form of business ownership. Informal sector - these businesses are not registered and do not contribute to the GDP of the country. and the purpose of businesses in the informal sector is survival.
2. Public Sector - Funding is generated by tax and also some departments do not operate as businesses.
Private sector The private sector includes all businesses that are privately owned. Examples involve businesses owned privately as sole traders, partnerships or companies with a profit motive.
3. Fill in the missing words ......
3.1 Profit
3.2 Fixed and employment
3.3 Informal sector
3.4 Official
Conclusion
I would like to conclude by stating that the formal business sector is all businesses which are more formally registered to operate under an known form of business ownership and the informal sector it is the sector that operates informal in a way that they do not contribute any percentage to the GDP of the country.
Private Sector is the sector that include all businesses that are privately owned and it's examples much involve businesses which are owned privately as sole traders, partnerships or companies with a profit motive. Yet importantly the businesses are focused to meet the demand of consumers. Public Sector - In this sector the funding is immensely generated by tax. and other departments do not operate as businesses.
That is all for today let us meet on the following week, same time and same day.
#Stay Safe
Credits
REFERENCES
Business Studies Grade 10 CAPS DOCUMENT
Business Studies Grade 10 Teacher's Guide ( CAPS)
Business Studies Platinum learners book