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Welcome and Government

What an Economy Is and Why It Matters

Three Levels of Government

Government and Households

The Circular Flow of the Economy

Markets

Real Flows and Money Flows

Government and Businesses

Key Terms: Government and the Economy

Practice: Who Is Responsible?

The National Budget

Where Government Money Comes From and Where It Goes

How the Budget Shapes Growth and Inequality

Worked Examples: Tax, VAT and the Budget

Taxes in Detail: Rates, Zero-Rated Goods and Other Levies

The National Budget at a Glance

The Economy: Government & National Budget 

Living Standards and Markets

Standard of Living and Lifestyles

Development, the Environment and Unemployment

Goods and Services Markets and Factor Markets

Practice: Living Standards, Development and Markets

Needs, Wants and Responsible Consumption

Module Quiz

Naming the Three Levels

Spotting a Public Good

Households as Producers

Direct Versus Indirect Tax

Calculating VAT

Progressive Tax

Reducing Inequality

Types of Societies

Defining Sustainable Development

Identifying the Labour Market

Head of a Province

Number of Provinces

Source of Government Revenue

Defining Unemployment

Test Yourself: Data Response on a Municipal Budget

Understand how South Africa's government, national budget, standard of living and markets shape the economy.

Find out who runs the country, how the government raises and spends money, why people live differently across South Africa, and where goods, services and jobs are traded.

The Economy

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