LEARNER’S CALA GUIDE
Subject: Economics
Topic: Small to Medium Enterprises
Name:
Candidate number:
School: MAHS
Center Number: 100225
Level: O Level
Duration: due 11 November 2021
Background
Small to Medium Enterprises play a major role in most countries especially in developing
countries like Zimbabwe. They represent about 90% of businesses, contribute to the national
output and contribute largely in employment creation in the country.
ACTIVITY
Learners will:
1. Identify a small to medium enterprise from their area of residence, research and explain
on any six problems the SME faces and give the solutions to the problems. (24)
2. Research on any 3 fixed costs and 3 variable costs the SME faces on at least 5 levels of
output (6)
From the collected data draw up :
i. the total variable cost curve (2)
ii. the fixed cost curve (2)
iii. Calculate Total costs and draw up the Total costs Curve (3)
3. Using the collected data calculate on each level of output:
a) Average variable costs(2)
b) Average fixed costs (2)
c) Average cost (2)
d) Marginal costs (2)
How will you be assessed?
Clearly explained problems faced by identified SME and feasible solutions
Correct costs identification
Correct calculations of costs
Visible and corrected labeled cost curves
Achievement standard.
Dimension Excellent Very good Good Satisfactory Unsatisfactory
39-45 34-40 27-33 20-26 0 – 19
Problems ( 22-24 marks ) (21-19 Marks ) (18-16marks ) (15-9marks ) (0-8marks )
faced by -6 excellently -5 problems raised -4 good points -only 3 -a maximum of
SMEs and the explained and very good raised and good meaningful 2 problems and
solutions problems and solutions given solutions problems raised solutions given
feasible solutions -some points not -some solutions -points not well
to be given well explained not given explained
Fixed costs (6 marks) (5 marks) (4 marks) (3marks) (0-2 marks)
and variable -3 fixed costs and -3 fixed costs and 2 -2 fixed costs -2 fixed costs -0 to 2 costs
costs the 3 variable variable costs given and 2 variable and 1 variable given
costs given at 5 and 5 levels of costs given at 5 costs given
levels of output output levels of output
Drawing up of 7 marks 6 marks 5 marks 3-4marks 0-2marks
costs curves -all cost curves -all costs curves -2 cost curves -1 cost curve -costs curves
(variable correctly drawn draw n up and a few fully drawn up fully drawn up drawn but not
costs, fixed up and correctly labels missing and labeled and labeled correctly
costs and total labeled -SME output data -1 cost curve not -other curves not labeled
costs) -output data of an used fully labeled full labeled -output data not
SME used used
Calculations (8 marks ) (7 marks ) (6 marks ) (4-5 marks ) (0-3 marks )
of AVC, -all calculations -calculations of -AFC, AVC -marginal costs -costs not
AFC, AC of costs correct AVC, AFC &AC &AC correctly not calculated calculated on all
&MC . on all levels of correctly done calculated -AFC & AVC levels of output
out put -calculation of MC -marginal costs correctly -calculations
slightly missed not calculated calculated mainly on AFC
-calculating AC and AVC
slightly missed
