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O/L Unit 3: The individual as producer, consumer and borrower

Topic #
Topic
Outcome
3.1
Money and exchange
 Describe the functions of money
 Describe the need for exchange
3.2
Banks and stock exchanges
• Describe the functions of central banks
• Describe the functions of commercial banks
• Describe the functions of stock exchanges
3.3
Choice of occupation
Identify the factors affecting an individual’s choice of occupation:
• wage factors
• non-wage factors
3.4
Changes in earnings
Describe the likely changes in earnings over time for an
individual
3.5
Differences in earnings
Describe the differences in earnings between different
groups of workers:
• male/female
• skilled/unskilled
• private/public
• agricultural/manufacturing/services
3.6
Trade unions
• Describe trade unions
• Analyse the role of trade unions in an economy
3.7
Specialisation
• Describe the benefits of specialisation for the individual
• Describe the disadvantages of specialisation for the individual
3.8
Spending, saving and
borrowing
Analyse the different motives for:
• spending
• saving
• borrowing
3.9
Expenditure patterns
• Discuss HOW different income groups have different
patterns of spending, saving and borrowing
• Discuss WHY different income groups have different
patterns of spending, saving and borrowing

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