Last Updated on September 10, 2021 by Alabi M. S.
THEME – CONSUMER EDUCATION
PREVIOUS LESSON – Third Term Home Economics Plan Lesson Notes for Primary 5 (Basic 5)
TOPIC: SOURCE OF INCOME
1. Introductory Activities
2. Meaning of Source of Income
3. Different between Needs and Wants
4. Lesson Evaluation and Weekly Assessment (Test)
By the end of the lesson, most of the pupils should have attained the following objectives –
1. identify sources of income.
2. differentiate between needs and wants with appropriate examples.
The pupils can identify some of the job or trade that fetch people money.
The teacher will teach the lesson with the aid of diagram of sources of family income.
Scheme of Work 4 – 6
9 – Year Basic Education Curriculum
All Relevant Materials
CONTENT OF THE LESSON
LESSON 1 – INTRODUCTION
Consumer education is the preparation of an individual to be capable of making informed decisions when it comes to purchasing products in a consumer culture.
It generally covers various consumer goods and services, prices, what the consumer can expect, standard trade practices, etc.
MEANING OF INCOME
Income is the money received from a regular work, gifts, donations or through investments.
MEANING OF SOURCE OF INCOME
Source of Income simply means where the money is coming from.
SOURCES OF INCOME
1. Wages and salaries
2. Savings plan
3. Loans from friends and families or financial agents
4. Profits made in business,
5. Interests on investment
6. Dividends on shares
10. Gifts and donations from families and friends
11. Sales of properties, e.g. car, house, etc.
LESSON 2 – PRINCIPLES OF NEEDS AND WANTS
Human being need or want many things at a point in time.
As soon as one need or want is met or satisfied, another needs or wants arise. It is our needs that give rise to our wants.
Needs are basic necessities of life.
Basic needs of man are food, clothing and shelter.
Wants are the unlimited human desires.
ITEMS OF NEEDS AND WANTS
EXAMPLES OF NEEDS
Examples of basic needs are food, water, and shelter. Other are education, security, etc.
EXAMPLES OF WANTS
Examples of wants are a car stereo, CD’s, car, designer clothes, etc.
To deliver the lesson, the teacher adopts the following steps:
To introduce the lesson, the teacher revises the previous lesson. Based on this, he/she asks the pupils some questions;
1. Asks pupils to state some of the work, job or trade ones can do to make money.
Pupil’s Activities – State different kinds of work, job and trade that can fetch people money.
2. Relates pupil’s responses as source of income for people and introduce the lesson.
3. Discuss the meaning of source of income.
Pupil’s Activities – Explain the meaning of source of income.
4. Asks people to state the means of getting income by their parents.
Pupil’s Activities – Mention and discuss their parents work job or trade.
5. Explains the differences between needs and wants.
Pupil’s Activities – Listen and differentiate between needs and wants with appropriate examples.
6. Summaries each lesson on the board.
Pupil’s Activities – Copy as the teacher instructed.
To conclude the lesson for the week, the teacher revises the entire lesson and links it to the following week’s lesson.
Ask pupils to –
1. explain the meaning of source of income.
2. state 5 source of income.
3. state and describe your parent job, work or trade.
4. differentiate between needs and wants with appropriate examples.
WEEKLY ASSESSMENT (TEST)
1. ________ is the preparation of an individual to be capable of making informed decisions when it comes to purchasing products in a consumer culture.
A. Consumer protection
B. Consumer school
C. Consumer education
2. ________ is the money received from a regular work, gifts, donations or through investments.
3. ________ simply means where the money is coming from.
A. Source of power
B. Source of income
C. Source of information
4. ________ need or want many things at a point in time.
5. ________ are basic necessities of life.
6. Basic needs of man are ________, ________ and ________.
A. Rice, school and business
B. Bread, house and shelter
C. Food, house and shelter
7. ________ are the unlimited human desires.
8. Wants are the ________ human desires.
9. Examples of want are food, water, and shelter. Other are education, security, etc.
10. Examples of needs are a car stereo, CD’s, car, designer clothes, etc.
11. As soon as one need or want is met or satisfied, another needs or wants arise.
12. It is our needs that give rise to our wants.
13. Differentiate between wants and needs with appropriate examples.
14. State all the basic needs.
15. Explain consumer education.
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