What is Economics?

Every individual in our economy is a consumer. This means that on a daily basis, we are constantly making decisions on what product or service to buy to make our lives easier. In order to do this money is exchanged between you (the consumer) and the business owner. This basic transaction forms the basis of economics. Economics is the study of how money is controlled and regulated throughout the economy.

How Economics can help you

In an emerging economy like South Africa, there is a high demand for entrepreneurs. Entrepreneurs are the brains behind businesses as they decide on decisions to make for the business, take risks and produce items based on what the economy is in need of. If you are thinking of becoming an entrepreneur someday, economics would be a useful subject to choose as it provides insight to the characteristics and qualifications that an entrepreneur should have.Other important topics such as The Problem of Scarcity, Demand, Supply, Globalization etc. may be found useful in everyday activity. In essence, Economics can help you make good decisions on how to live a better lifestyle by knowing and understanding the causes and effects of economic fluctuations in the country.

Economics at Wynberg Boys’ High School

Wynberg Boys’ High School prides itself with the provision of extra learning resources to make understanding work easier for the students. The subject head, Mike Engelbrecht along with the rest of the economics department of the school, does their best in the classroom making use of class tests, orals and classroom discussions to ensure a fun, educational economics experience. A range of economics past papers, notes, summaries and videos for each respective grade are freely available on Moodle. Learners are encouraged by their teachers to make use of these valuable resources to help them throughout the year.

Anees Esau