islamic finance chapter of tcts sa™savingsinstitute.co.za/campaign_archives/tcts2012/islamic...

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Islamic Finance Chapter of TCTS SA™

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my savings, my future

Teach Children to Save South Africa™ (TCTS SA™) is a national savings campaign which

was fi rst piloted in July 2008. After the successful launch and national interest generated,

this initiative was adopted as an annual programme of the South African banking

industry and broader fi nancial sector, under the auspices of Consumer Education/

Financial Education, as an enabler of access, development and transformation.

The aim of TCTS SA™ is to teach children to save, to foster a culture of saving and to

promote volunteerism. TCTS SA™ highlights the important role that volunteer bankers/

fi nancial sector professionals can play in educating our nation’s youth to become

lifelong savers.

Copyright © The Banking Association South Africa, August 2010

This resource may be adapted and copied for educational purposes provided that acknowledgement is

given to The Banking Association South Africa as producers of the original version.

The Islamic Finance Chapter of TCTS SA™ Lesson Plan was developed in conjunction with First National

Bank Islamic Finance.

The Banking Association South Africa, PO Box 61674, Marshalltown 2107

www.banking.org.za

www.tcts-sa.org.za

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Check list 2

Introduction and concept of Money in Islam 3

Activity 1: Identify the diff erence between

the needs and wants 4

Saving 6

Savings plan 7

Activity 2: Generating own income 8

Managing Money 10

Budgeting 11

Portfolio Story: Soccer in the Park and 14

a goal to save

Portfolio Activities: Soccer Story 16

Aswers for Portfolio Activities : Soccer Story 23

Curriculum links : Soccer Story 25

Resources:

NEED/WANT Flash cards 28

Picture cards 30

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my savings, my future2

Materials needed:

• Lesson Plan (including Portfolio Activity)

• Flash cards (Need/Want) (for Activity 1)

• Copies of the savings plan page 7 template (for Activity 2)

• Picture cards (for Activity 3)

• Evaluation forms

• Department of Basic Education letter

In the classroom:

• Introduce yourself clearly

• Hand out the NEED/WANT fl ash cards

• Do an icebreaker

• Relax!!!

Checklist for facilitator

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Before we go any further it is important for you to understand the following points regarding money in Islam:

• Money / resources is the bounty of Allah

• Money has no intrinsic value, and is merely a means of trade

• Ownership of money ultimately belongs to Allah, its use has been entrusted to us

• Hoarding and wasting of money is prohibited

• It must be lawfully earned and spent

• Paying of Zakah (obligatory if eligible) purifi es one’s money and uplifts the community

• Sadaqah and Lillah donations (voluntary giving) safeguards one from calamities and misfortunes

A. Introduction

Good Money management goes beyond spending money wisely. it means you should learn to save money.

Saving money ensures that you will be able to aff ord the things that you need when you need them most.

Saving money is also a good habit that will ensure that you build a good fi nancial future.

B. Objectives

At the end of this lesson you should be able to

• Know the diff erence between needs and wants

• Know that needs are more important that wants

• Know what it means to save money

• Know where and how you can open a Bank account

• Know how to do a budget

• Start a savings plan

needwant

Identify the diff erence between needs and wantsFacilitator: One of the most important things to help you learn about money is to know the diff erence between something that you ‘need’ and something that you ‘want’

1. Find out what learners already understand by the words ‘need’ and ‘want’. For example, ask learners:

‘Can anyone tell me what the diff erence is between something you need and something you want?’

‘Give me an example of something you need/want.’

Explain that something that you need is something you cannot live without, something you must

have.

Explain that something that you want is something you would really like to have but can live without.

2. Give each learner a need/want fl ashcard, and explain the activity. For example: ‘When I call out

something, you tell me if it is a need or want and hold up your fl ashcard to show me the word.’ (Repeat

instructions twice so that learners understand clearly.)

3. Make two columns on the board/fl ipchart, one headed ‘Needs’, the other headed ‘Wants’. During the

activity, write each item in the relevant column, as learners decide if it is a ‘need’ or ‘want’. If there are

diff erent views, or they incorrectly identify something as a want/need, ask questions to clarify their

ideas. For example: ‘Could you live without X?’ ‘Why do you want Y?’

Make the session as interactive and participatory as possible. Ask learners if there are any other items

they would like to classify as a need or want.

Examples: • We need clothes to keep us warm, but is an expensive fashionable t-shirt a need or want? (WANT).

• Is a pair of school shoes a need or want? (NEED).

Ideas for items that can be discussed:

• House

• Sony PlayStation

• Food – cakes, bread,

vegetables, Kentucky, fast

foods

• Soccer boots

• School books

• School fees

• Camera

• A pet (dog/cat)

• Water

• Movies

• School uniform

• Music CDs

• Rain coat

• Swimming pool

• Cellphone

• Bus fare

• Money

• Toys

• Chocolate

• Soap

waannt

d t

needddww

vegetables, Kentucky, fast

foods

• Soccer boots

• School books

• School fees

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Facilitator: Now that we know the diff erence between needs and wants let us talk about how it can help us to make choices about what we buy, and to save money

4. Explain the following scenario/s, and have a discussion about learners’ answers.

Scenario 2: You have saved R50 for a school bag that you want. When you get to the shop it has gone up

and it is now R60. What do you do and why?

a. Go home and save another R10

b. Shop around for a cheaper bag in other shops

c. Look for another bag that looks strong and costs R50 or less

During the discussions, acknowledge that making choices between needs and wants is not always easy. For example, learners may feel that it is important to wear fashionable clothes because it gives them a sense of identity, helps them to fi t in with a group, i.e. it helps to meet their ‘need’ to be accepted by their peers. In this case, ask learners which is a real friend – someone who you enjoy being with and is there when you need him/her, or someone who teases you just because you do not wear the right clothes? Acknowledge that choices about what we buy refl ect our values – the principles that guide us, and things that are most important to us. Remember that advertising also infl uences people’s choices about what to buy.

R50R10R20R200

Scenario 1: You are given R120 to buy school shoes. You also need school

socks but you will be given the money to buy them at the end of

next month. When you get to the uniform shop some items are

on special. You have three choices, which one will you go for?

Give reasons for your choice.

a. A fashionable shoe that you have always wanted, but cannot

wear to school (R120)

b. An ordinary strong, good quality shoe plus a pair of socks

(total R120)

c. An ordinary pair of shoes and extra money (R100 plus R20)

eet their need to be accepted who you enjoy being with and use you do not wear the right

– the principles that guide us,so infl uences people’s choices

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C. Saving

Saving money means spending less money on the things you do not need and putting that money aside for

better use in the future. You do this by making choices about what you want to spend your money on.

Islamic fi nancial institutions vs. conventional fi nancial institutions

You can save your money in a formal fi nancial institution. This means putting your money in a bank

that helps you to save. They are called formal institutions as they are recognised as fi nancial companies

or organisations, by law. Of these you can fi nd both Islamic fi nancial institutions and conventional

fi nancial institutions. The main difference between them is that the Islamic fi nancial institution is governed by Shari’ah (Islamic / divine Law) whilst the conventional is not.

(1) When you save money with an Islamic fi nancial institution you can be sure of the following:

• You have Shari’ah approved products to choose from

• There is no Riba (interest)

• You may earn a profi t share*

*It is important to note that in Islam when you share in the profi t you must be aware that you share in

the risk / loss to.

What is Riba?

Any risk free or ‘guaranteed’ rate of return on a loan or investment is riba. Riba is prohibited in Islam so as

to promote free and fair trade.

For example, pocket money from your parents, or any money you earn by doing odd jobs

Make a list of things that you buy for example, lunch, transport, sweets, and how much they cost. Put a star by the things that you need, and add up those costs

Make a list of the things that you want but do not need to buy every week

My savings plan

Every week I get: R_______

I get this money from:

Every week I buy:

Every week I spend: R_______ on things that I need.

Every week I want to save: R_______

To do this I will spend less money on:

My saving goals

If I save R_______ every week:

next week I will have R______________

in four weeks (one month) I will have R______________

in two months I will have R______________

I will put my savings in a money box and take it to the bank on the fi rst

Saturday of each month.

_____________

___

o the bank on the fi rst

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D. Opening a bank account

Before you choose a bank you should think about the following:

(1) Does the bank off er Shari’ah approved products?

(2) How much do I need to open a bank account?

(3) Where is the bank, can you get there easily?

(4) Does the bank have accounts for youth?

(5) What services does the bank off er?

(6) What other services does the bank off er youth?

(7) What fees will the bank make you pay for these services?

(8) What will you pay at other banks for the same service?

Since you are still at school you should ask your parent or legal guardian to assist you to open

the bank account.

E. Generating own income

What if I do not have money to save?

Let us see how you can make money from selling things.

Let us say the teacher gives you loan of R10.00.

• How can you use that money to generate more money?

• What would you do with the money you make from that activity?

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Here’s an example of students who used the money to buy oranges to generate income.

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F. Managing Money

Peter’s family’s experience

Peter’s family wanted the TV and sofa that they saw on special in a shop. The shop said that it did not

matter if they had not saved up enough money, they could pay for the things by making a small payment

each month. For the fi rst few months they paid the installments. Then one month, someone in the family

got sick. They had to use the money to pay the doctor. They could not pay the shop. They did not pay for

a few months. The shop came to take the TV and the sofa away. But the family still has to pay the shop

some money.

Do you think they made a good or bad choice to buy goods before they had saved up more money?

What advice can you give to this family to help them save?

Furniture Delivery

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G. Budgeting

What is a budget?

A budget is a plan that helps you work out how to save and how to spend. A budget is worked out using

your income (the money that you earn or receive) and your expenses (things that you spend money on).

Below is Yusuf’s Budget, a grade 6 learner

Air Time

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Yusuf’s Parents Budget

Rent

Other

Vehicle repayment installment

Cellphone

Thank You Dankie Siyabonga

Show learners Portfolio Activity story (Soccer in the park and a goal to save). Explain that their class

teacher will read the story with them and they will have to complete Portfolio Activities based on the

story and what they have learnt during the savings lesson.

Allow a few minutes at the end of your session to check their understanding of some of the key points

and get some feedback from learners. You could use questions such as:

• Do you think saving a little bit of money each month is a good idea? Why/why not?

• Who is going to make a savings plan – or tell a friend or family member about saving – when they

get home?

• What did you enjoy most about this session?

• Which part did you enjoy least?

• What do you think I can do to make the activities more interesting/fun when I visit another school?

• What else would you like to fi nd out if I was invited to come to visit your class again?

Hand out TCTS SA™ Evaluation forms to the learners and the class teacher.

plain that their class

o Activities based on the

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Thank You

Thank You DankieDankie Siyabonga

Siyabonga

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ea LivhuwaRea Livhuwa Siyabulela

Siyabulela

Rea Lebowa

Rea Lebowa Rea Leboha

Rea Leboha

Rea Leboga

Rea Leboga Hakhensa

Hakhensa

Siyathokoza

Siyathokoza SiyabongaSiyabonga

Outside the soccer stadium, Sam was tidying up the shirts on his

stall. He had sold a lot that day because of the match. Suddenly a ball

bounced onto his table.

“Please sir, may we have our ball back?” asked Thembi.

Sam picked up the ball and kicked it back into the park. The ball fl ew over the

fl owers, past the swings and straight between the goal posts. It went so fast

that Neo, the goal keeper, could not save it.

“Laduma!” screamed Thembi and Alex.

Sam smiled. It had been a long time since he had kicked a soccer ball. Maybe

he still had some of his old magic.

“Wow! Can you show us how to do that?” Alex asked.

“Sure, everyone is at the match so I have no customers”, he said. “My name

is Sam.”

Sam joined Alex and Thembi and their four friends in the park. He showed them a few moves for scoring

goals. The children were impressed.

They all sat down under a tree to rest. Paul asked, “How did you learn to play like that?” “Through practise

and hard work”, said Sam. He told the children his story. He had been a professional soccer player, a

striker. One day he was chosen to play in an international match against a team that had won the African

Nation’s Cup. During that match, Sam fell and broke his leg badly. “My soccer days were over”, he said.

“But my big mistake was not saving money. I had to start again from

nothing – even though I had earned a lot of money playing soccer and some big companies sponsored

me.”

Sam explained that he spent all his money on fancy clothes, parties and presents for his friends. “I wanted

everyone to see that I had made the big time. I never thought of the future”, Sam said sadly. “I never saved.”

Sam could not get a job. One day, he met some artists making beads out of recycled glass, and interesting

toys out of plastic bags and cold drink cans that had been thrown away. If he had money to buy the toys,

Sam thought, he could sell them to tourists.

A week later, a friend helped him to make a business plan. They wrote down

how much money Sam needed every month to pay for food, rent, transport and

entertainment. They worked out how many toys Sam would need to sell to cover his

expenses and make a profi t.

Sam’s friend off ered to invest in his business. “I’ll give you the money you need to buy

your fi rst batch of toys”, said his friend. “At the end of the year you can pay back the money

plus 10% extra.”

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“I opened a savings account at a bank”, said Sam. “Every week, after selling

the toys, I kept the money that I needed for my expenses and to buy more toys to sell. I put the rest of

the money in the bank. Sometimes I spent less on entertainment so I could save more. By the end of the

year I had saved enough to pay back my friend. But I did not stop saving. I learned that saving should be

a habit, even if you can only aff ord to save a little.”

The children were quiet after the story. They listened to the sound of Vuvuzelas from the stadium.

“I wish we could go to a match”, said Kate.

“Well, I I’ve learnt that one way to make your dreams come true is to save”, said Sam. “I’ve been saving for something special. If I couldn’t be part of the Bafana Bafana team in the World Cup, at least I can support them at a match! And guess what? I saved enough to buy 7 tickets and I’m looking for 6 young soccer players to come with me!”

Loud shouts of “Laduma!” and cheers came from the stadium. Sam asked the children, “What’s your goal

in life?” They all shouted, “Our goal is to save!”

A few weeks laterSam had seen that the children loved soccer and they had

talent. But they needed some coaching. They were very

excited when he off ered to be their volunteer coach,

twice a week after school. He asked his nephew

to look after his stall while he was coaching

the aspiring soccer players.

At their fi rst coaching session, Sam gave each child

a beautiful money box the artists had made from waste materials. He

showed them how to make a savings plan and put a little money in their

money box every week. He was glad that the children were learning to play soccer, but

he was happier that they were also learning to be savvy savers.

o play soccer, ute also learning to

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SOCCER STORY - Portfolio Activity: Grade 4

LO1: AS2; LO3: AS2, AS3, AS4; LO4: AS1, AS2, AS3

Learner’s name: ________________________________________________

School: ________________________________________________

Moderator: ________________________________________________

Educator: ________________________________________________

Date : ________________ Total Marks: 1515

Read the story Soccer in the park and a goal to save.

1. Why did Sam have no money when he had stopped playing professional soccer? (1)

_______________________________________________________________________

2. Use the words in the box to complete these sentences:

a. Sam is a trader. He ___________things to earn money.

b. A dressmaker ___________clothes to earn money.

c. A___________is a business that provides a service to help people to save money.

3. Complete these sentences to show how Sam’s fi rst business worked.

Choose the words from the box.

a. The artists use ___________items, like plastic bags and cans, to ___________ toys.

b. Sam ___________the toys from the artists.

c. Sam ___________the toys to tourists.

4. The artists make toys out of things that people throw away. Explain one way that this

helps the community.

_______________________________________________________________________

5. For one toy, Sam pays an artist R15

Sam sells the toy for R20

Sam’s profi t will be: R20 – R15 = R5

If Sam sells 10 toys, how much profi t will he make? R___________

(3)

(4)

(1)

(1)

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makes

sells waste

make bakes

buys builds

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Sam’s profi t will b

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SSSSSOOOCCEERR STOR

LO1: AS2; LO3

Learner’s nam

School:

Moderator:

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Portfolio Activity: Grade 4

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6. Complete Sam’s savings plan.

Sam’s savings plan

The profi t I earn in one day is: R50

I spend: R10 on transport

I spend: R20 on food and cold drinks

I spend: R20 on rent

Total money spent: R___________

I want to save R5.

What can I do? Drink water and spend less on _________ _________

My saving goals

If I save R5 every day, in 5 days I will have R_____ to put in my savings account.

I put my savings in a bank account to keep it safe and to earn interest.

7. Give two reasons why Sam puts his money in a savings account.

_______________________________________________________________________

_______________________________________________________________________

(3)

(2)

LO1: AS1; LO3: AS4; LO4: AS1


Learner’s name: ________________________________________________

School: ________________________________________________

Moderator: ________________________________________________

Educator: ________________________________________________

Date : ________________ Total Marks: 2020


1. a. When Sam was a soccer player, what did he spend his money on? (5)

_______________________________________________________________________

b. Were most of these things needs or wants?

_______________________________________________________________________

2. What could Sam have done to make sure that he had some money when he could not

play soccer any more? (5)

_______________________________________________________________________

3. a. After his injury, what did Sam decide to do to earn money? (10)

_______________________________________________________________________

b. What did he do with the money he earned?

_______________________________________________________________________

c. Were most of these things needs or wants?

_______________________________________________________________________

4. What did Sam need his savings for? (1)

_______________________________________________________________________

5. Sam’s plan is to sell toys to tourists. Think about the businesses that you have seen (3)that sell things to tourists. What skills do you think Sam needs to attract tourists to his

business? Think about:

• the type of things he chooses to sell, tourists like to buy things that they

• cannot get at home

• how he can make tourists feel comfortable and safe in a strange place

• the type of things that tourists like to do and see on holiday, such as visiting heritage

sites and wildlife areas, seeing music and dance events.

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ngs that tourists like to do and see on holiday, such as visit

ife areas, seeing music and dance events.

5. Sam’s plan is t

that sell things t

business? Think

• the type of thi

• cannot get at

• how he can m

• the type of thi

sites and wildl

LO1: AS1; LO

SSSSSOOOCCEERR STOR

Learner’s na

School:

Moderator:

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Learner’s name: ________________________________________________

School: ________________________________________________

Moderator: ________________________________________________

Educator: ________________________________________________

Date : ________________ Total Marks: 2525


1. Sam runs a trading business. Fill in the missing words in the diagram below to show

what happens in Sam’s business. Use the words in the box to help you. (6)

a. Artists b. Sam

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

toys toys

c. Sam d. Tourists

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

toys to tourists toys

2. a. What do the artists use to make their toys? (5)

_______________________________________________________________________

b. Where do you think they get these materials? (1)

_______________________________________________________________________

c. List two advantages for using waste materials to make new products.

_______________________________________________________________________

_______________________________________________________________________


_________

_________

_________

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LO1: AS3; LO3: AS1, AS3; LO4: AS2, AS3

sells

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3a. Why did Sam have to save money to pay his friend? (5)

_______________________________________________________________________

b. Read Sam’s savings goal and fi ll in the missing numbers.

Sam’s friend lent him R1000, at the beginning of January.

Sam had to pay back his friend R1000 plus 10% extra (interest) = R___________

(10% of R1000)

Sam’s goal was to pay back his friend at the end of December. To do this Sam would have

to save:

R1100 ÷_______ = R91.66 = about R100 every month

c. Fill in the missing words in this paragraph.

Sam borrowed R1000 from his friend. This means that he was in ___________to his friend.

He had to___________money to pay his friend back.

4. List two things that Sam could sell in your community. For each thing say (6)a) what type of people would buy it, and b) why they want or need it.

_______________________________________________________________________

_______________________________________________________________________

_______________________________________________________________________

_______________________________________________________________________

_______________________________________________________________________

_______________________________________________________________________

5. Choose one of the things that you thought Sam could sell in your area. (3)Make a list of three things that Sam could do to advertise it.

_______________________________________________________________________

_______________________________________________________________________

_______________________________________________________________________

Sam’s

savings

goal

save credit

give debt

Sam

savi

go

save c

give

______________

______________

PPPPPPooortffoolio Act

3a. Why did Sam

____________

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Learner’s name: ________________________________________________

School: ________________________________________________

Moderator: ________________________________________________

Educator: ________________________________________________

Date : ________________ Total Marks: 2020

1a. Make a list of two things that you need. (6)

_______________________________________________________________________

_______________________________________________________________________

b. Make a list of two things that you want.

_______________________________________________________________________

_______________________________________________________________________

c. Write a sentence to explain the diff erence between a need and a want.

_______________________________________________________________________

_______________________________________________________________________

_______________________________________________________________________

2a. When Sam was a soccer player, did he spend most of his money on things that (2)he needed or things that he wanted?

_______________________________________________________________________

b. After his injury, what did Sam sometimes do to save more money?

_______________________________________________________________________

3a. If a person has access to clean water to drink, is a can of cold drink a need (5)or a want?

_______________________________________________________________________

b. Many people throw their cold drink cans away when they are empty. Do you think this

is good or bad for the environment? Give a reason for your answer.

_______________________________________________________________________

___________________________________________________________


LO1: AS1; LO2: AS3

_______________________________________________

______________________________________________

____________

o you think this

____________

_________

_________

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c. In Sam’s story, how did the artists help to reduce waste?

_______________________________________________________________________

_______________________________________________________________________

4. At the beginning of January, Sam’s friend lent him R1000 to start his business. (5)

a. Look at Sam’s budget and work out how much Sam can aff ord to save each month.

Sam’s budget for one month

Income: R1000

Expenses

Cost of crafts: R380

Food: R150

Transport: R50

Rent: R250

Entertainment: R50

Total expenses: R880

Saving: R___________ (income – expenses)

b. How much would Sam have saved by the end of December?

R___________ x 12 months = R___________

c. Sam had to pay back his friend R1000 plus 10% interest (10% of R1000). What is the total

amount that Sam will pay his friend?

R1000 plus 10% interest = R___________

d. After paying his friend, how much would Sam have left in his savings account?

R___________

5a. Fill in the missing number in this paragraph: (2)

Sam’s friend had saved R1000. He did not need to use that money for one year.

He decided to use the money to help Sam start his business. He lent Sam R1000 at 10%

interest, for one year.

After one year, he had made R___________from his investment.

b. What would have happened to Sam’s friend’s money if Sam’s business had failed?

______________________________________________________________________________________________________________________

He decided to us

interest, for one y

After one year, he

b. What would ha

______________

PPPPPPooortffoolio Act

c. In Sam’s story

____________

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SOCCER STORY - Answers for the Portfolio Activitiesolio Actiivvitiieeesssss

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Grade 5LO1: AS1; LO3: AS4; LO4: AS1

Total marks: 20

Mark1a. Fancy clothes (1)

Parties (1)

Presents for friends (1)

b. Mostly wants (2)

Total marks 5

2. Allow any reasonable answer, such as:

saved some money,

spent less on things that he wanted,

made a savings plan 1

3a. He decided to buy toys (1)

and sell them to tourists (1)

b. Spent some on food (1)

rent (1)

transport (1)

entertainment (1)

buying more toys to sell (1)

saved some money to pay

back his friend (1)

c. needs (2)

Total marks 10

4. To pay back the money his

friend had lent him. 1

5. Allow any reasonable answer,

give a mark for mentioning the

following skills: 3

The ability to choose things that

tourists like, things that are diff erent

from their own culture

The ability to be friendly, polite, honest

The ability to fi nd out about interesting

places in the area,

and tell tourists about them

Grade 4LO1: AS2; LO3: AS2, AS3, AS4; LO4: AS1, AS2, AS3

Total marks: 15

Mark1. He had spent it all and/or

he had no savings 1

2. a) sells (1)

b) makes (1)

c) bank (1)

Total marks 3

3. a) waste items to make (2)

b) buys (1)

c) sells (1)

Total marks 4

4. Accept any reasonable answer,

for example, there is less

waste, less litter 1

5. R50 1

6. Total money spent: R50 (1)

Spend less on cold drinks (1)

saved R25 (1)

Total marks 3

7. To keep it safe (1)

To earn interest (1)

Total marks 2

SOCCER STORY - Answers for the Portfolio Activities

Grade 7LO1: AS1; LO2: AS3

Total marks: 20

Mark1 a. Give one mark for each (2)

reasonable need , e.g. things

a learner must have, e.g. food,

clothes, school books.

b. Give one mark for each (2)

reasonable want , e.g. luxury

items that the learner can live

without, e.g. jewelry, the latest type

of cell phone, a new music CD.

c. Allow any reasonable answer,

such as: A need is something

you need to survive, (1)

but a want is something

that you can live without. (1)

Total marks 6

2 a. Things that he wanted. (1)

b. He sent less on entertainment. (1)

Total marks 2

3 a. a want (1)

b. Bad (1)

Give one mark for any correct (1)

reason , for example, it creates

more waste that has to be

disposed of it; it is not a good

use of resources because the

cans can be reused or recycled.

c. They made toys from

cold drink cans (1)

and plastic bags (1)

Total marks 5

4 a. He saved R120 a month (1)

b. R120 x 12 months = R1440 (1)

c. R1100 (1)

d. R340 (1)

Total marks 5

5 a. R100 (1)

b. He would have lost his R1000 (1)

Total marks 2

Grade 6LO3: AS3; LO3: AS1, AS3; LO4: AS2, AS3

Total marks: 25

Mark1 a. make (1)

b. buys (1)

c. sells (1)

d. buy (1)

Top arrow: toys (1)

Bottom arrow: money (1)

Total marks 6

2 a. plastic bags (1)

cold drink cans (1)

b. Allow one mark for any (1)

reasonable answer, such as:

from litter bins, they ask people

to keep their plastic bags and

cans and the artists collect them

c. the artists do not have to pay

for the materials (1)

there is less waste or litter (1)

Total marks 5

3 a. Because his friend lent him

some money to start his business (1)

b. Zee had to pay back R1100 (1)

R1100 ÷ 12= R91.66=about R100 (1)

c. he was in debt to his friend. (1)

He had to save money . (1)

Total marks 5

4. Allow any reasonable answers.

Give one mark for:

each product suggested (2)

For each product, learners must identify:

a) a suitable type of customer, (2)

e.g. children, tourists

b) a reason why they would buy it, (2)

e.g. because they need it for school,

or they cannot get it in their area

Total marks 6

5. Give one mark for each

reasonable suggestion. 3 Total marks

gestion. 3

e.g. children, to

b) a reason why

e.g. because the

or they cannot g

Total marks

5. Give one mark f

reasonable sugg

SSSSSOOOCCEERR STOR

Grade 6LO3: AS3; LO3: AS1,

Total marks: 25

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for Soccer Story Portfolio Activities

Learning Area: Economic and Management Sciences Note to facilitator: You can adapt the activities and discussions as needed to help learners work towards the following Learning Outcomes (LO) and Assessment Standards (AS).

Economic and Management Sciences: Grade 4

Learning Outcomes and Assessment Standards Question or task in Portfolio Activity that work towards the AS

LO1: The economic cycle

AS2: Explains the eff ects on the community of both responsible and

irresponsible use of resources and services

4

LO3: Managerial, consumer and fi nancial knowledge and skills

AS2: Distinguishes three diff erent types of local businesses: trading;

manufacturing; servicing.

2

AS3: Identifi es diff erent sources of personal income, and plans spending and

saving by drawing up a basic personal budget

5, 6

AS4: Investigates the use and purpose of a savings account 7

LO4: Entrepreneurial knowledge and skills

AS1: Identifi es diff erent characteristics (abilities and talents) of entrepreneurs 2

AS2: Explains how entrepreneurs combine labour (work), capital (money,

machinery, tools), and natural resources (raw materials) to gain profi t

3, 5

AS3: Diff erentiates between the entrepreneurial actions of buying, selling

and producing

3, 2

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Learning Outcomes and Assessment Standards Questions or tasks in Portfolio Activity that work towards the AS


AS1: Diff erentiates between the diff erent levels of needs that people

have, and explains how these might be satisfi ed

1, 2, 3


AS4: Discusses the value of savings and thrift, and people’s diffi culty

in saving if basic needs are not met

2, 4


AS1: Identifi es the specifi c entrepreneurial skills needed to attract

tourists to own community

5


Learning Outcomes and Assessment Standards Questions or tasks in Portfolio Activity that work towards the AS


AS3: Presents diff erent fl ows of resources and services in the

economic cycle (e.g. fl ow of wages to households in exchange for

labour; the fl ow of money to businesses in exchange for goods and

services).

1


AS1: Understands and participates in the production process, from

raw materials to fi nal products, including waste products.

2

AS3: Explains the concept of debt and compares the banking and

savings facilities off ered by diff erent banks

3


AS2: Identifi es a variety of possible business opportunities in the

community

4

AS3: Designs an advertising campaign to promote a product that will

generate a profi t

5


Learning Outcomes and Assessment Standards Question or task in Portfolio Activity that work towards the AS


AS1: Explains needs and wants and how the diff erences between them

impact on communities and the environment

1, 2, 3

LO2: Sustainable growth and development

AS3: Compares and discusses the diff erence between savings and

investments.

4, 5

Opportunities for integration with other Learning AreasLanguages: English First Additional Language:

LO1: Listening; LO2: Speaking; LO3: Reading and viewing

Activity: Reading and/or listening to, and talking about, the soccer story in preparation for the Portfolio

Activity tasks.

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Contact details:

TCTS SA™ Programme Coordinator

E-mail: [email protected]

Fax: 011 645 6821/40

islamic finance chapter of tcts sa™savingsinstitute.co.za/campaign_archives/tcts2012/islamic...

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