Module 2: Business Studies
Human wants, goods and services, scarcity, and choice.
Use this workbook to practice core KCSE communication skills and record evidence of progress.
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SECTION: BUSINESS STUDIES
MODULE: 2
Part A: Units
Satisfaction of human wants
a. Meaning and characteristics of human wants
b. Types of human wants
c. Goods and services
d. Characteristics of goods and services
e. Economic resources, scarcity, choice and opportunity
Part B: Project
Analyze wants, goods, services, and scarcity in daily life.
Project Title: Human Wants and Resource Choices
Objective: Apply business concepts by analyzing wants, goods, and scarcity in daily life.
Project Instructions:
- 1. Identify five human wants in your community.
- 2. Classify each as a good or service.
- 3. Explain one example of scarcity and choice.
- 4. Describe the opportunity cost in your example.
- 5. Consult your coach where necessary.
Evidence to Submit:
- • List and classification of wants.
- • Short explanation of scarcity and opportunity cost.
Submission
Part C: Training Others
Teach a peer about wants, goods, services, and scarcity.
Guidance:
- • Explain the difference between goods and services.
- • Use a local example of scarcity.
- • Ask the learner to describe an opportunity cost.
Reflection:
- • What did the learner understand well?
- • What needed more explanation?
- • What support do you need from your coach?
Submission
Part D: Assessment
Competency Levels:
1 = Expectations not met
2 = Partially met
3 = Satisfactorily met
4 = Excellently met
Self-assessment:
- • Understanding of human wants:
- • Goods vs services:
- • Scarcity and opportunity cost:
Coach assessment:
- • Understanding of human wants:
- • Goods vs services:
- • Scarcity and opportunity cost:
Submission
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