Subject: Home Economics
Topic: Buying and Spending
Duration: 40 mins
Reference: Tanus Home Economics for primary school book 6
Objective: At the end of the lesson pupils should be able to:
Buying and selling is acquring goods and services, by paying money in exchange for them.
Sources of income
The sources of income are the channels through which money is obtained. The sources of income of a family are the money earned by the family from doing work on other investment at a particular period.
The individual or family earns money through the following ways:
Principles of Needs and Wants
Needs: These are the essential or basic requirement for an adequate standard of living. Our needs are important and must be adequately met, although money may be limited, they must be satisfied. Our various needs are:
Wants: Human wants are numerous, our desires are our want. Our wants may be good and important, but they are not of necessity. We can live or do without them. Examples are car, television, expensive houses, expensive shoes, clothes and bags.
Advantage of Wise Spending and Buying
The means (money) of meeting our demand i.e wants or needs are limited. Money is a scarce resource, and need to be spent wisely. There has to be a scale of preference i.e making a list of our requirements and arranging them according to their level of important:
How to spend money wisely
Step I: Teacher revise previous lesson with pupils
Step II: Teacher introduces and explains new topic to pupils
StepIII: Pupils are allowed to ask questions.
StepIV: Teacher writes note on the board for pupils.
Conclusion: Teacher moves round for inspection, marking and correction of notes where necessary.
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