economics and management sciences Grade 8

Introduction

will be asking learners to name and identify markets around where they live 

ask them to name the their branded items they usual wear the most

ask them to identify how  are they different from the one we use malls 

 

Task

going to ask them to identify the type of ownership they saw in the video 

ask them them to use their textbook for todays lesson

Process

sole trader 

one person owns and runs the business and that person is responsible for any obstacle that might come up in the business

The characteristics of a sole trader 

* they control everything in the business

* they keep all the profit to them

no high cost to start the business 

very easy to start an business 

disadvantages

tax is payed personally

the owner is liable for all liabilities made in the business

advantages

control over the business

profit goes to the owner

Evaluation

activity

true a or false 

1.sole trader is managed by 5 partners 

2.in a sole trader the business profit goes to the owner 

3.all liabilities are paid by the workers 

4.good managerial skills are required when opening this kind of business

 

Conclusion

learners please complete the activity above 

watch again the video in order to understand the sole trader form of ownership

contact me when you have a question 

 

thank you

Credits

study and master

economic and management sciences 

2. youtube videos 

Teacher Page

dear students 

for any quires that you might have please contact me via 217036872@mycput.ac.za