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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Demonstrate an understanding of the function of the market mechanisms in a new venture 
SAQA US ID UNIT STANDARD TITLE
114595  Demonstrate an understanding of the function of the market mechanisms in a new venture 
ORIGINATOR
SGB Generic Management 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Generic Management 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular-Fundamental  Level 4  NQF Level 04  5 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 		 2008-05-13  2009-05-13  SAQA 0160/05 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2010-05-13   2013-05-13  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
263514  Demonstrate an understanding of the function of the market mechanisms in a new venture  Level 4  NQF Level 04  5   

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is aimed at learners who wish to develop an understanding of the way market mechanisms operate in a new venture. It will also address the economic realities of South Africa and the role new ventures play in job creation.

The qualifying learner will be able to:
  • Explain the free market system in terms of perfect and imperfect competitive markets.
  • Discuss and illustrate the interaction of demand and supply in price determination under conditions of perfectly competitive markets.
  • Identify and discuss the factors that drive economic activity.
  • Describe the development and significance of markets with particular reference to South Africa. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Learners accessing this qualification will be competent in Computer Literacy, Mathematical Literacy and Communications at NQF level 3 or equivalent. 

    UNIT STANDARD RANGE 
  • Concepts of the economic system.
  • Laws of demand and supply
  • Interaction of demand, supply and price.
  • Factors that influence the South African economy. 
    		•

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain the free market system in terms of perfect and imperfect competitive markets. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
  • Characteristics of different economic systems are identified with examples.
  • The role of competition in a free market system is explained with examples from state owned/ monopolies and private businesses.
  • Varying prices of the same product/service are listed in illustrating competition.
  • Reasons for imperfect competitiveness are described wiht examples.
  • The advantages and disadvantages of competition are explained with examples for the consumer and business. 
    		•

    SPECIFIC OUTCOME 2 
    Discuss and illustrate the interaction of demand and supply in price determination 
    OUTCOME NOTES 
    Discuss and illustrate the interaction of demand and supply in price determination under conditions of perfectly competitive markets. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
  • The laws of demand and supply and the consequence of these laws for new ventures are explained and illustrated with examples.
  • Demand and supply curves are illustrated and the relationship between the variables is explained in context of own venture.
  • The relationship between demand, supply and price is discussed and illustrated with reference to own products or service.
  • Factors that lead to changes in the demand and supply curve are listed in own specific context. 
    		•

    SPECIFIC OUTCOME 3 
    Identify and discuss the factors that drive economic activity. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
  • The effects of cyclical movements in a market system are evaluated in
    context of a new venture.
  • The concept of inflation and its impact on own specific business is described with examples.
  • The reasons for the decline in the value of money are identified with examples.
  • The role of foreign currency and exchange rates in the general economy is identified with examples .
  • The role of the interest/ BA rate, Gross Domestic Product and Balance of Payments in the operations of own venture is identified and explained with examples. 
    		•

    SPECIFIC OUTCOME 4 
    Describe the development and significance of markets with particular reference to SA. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
  • International trade as a result of uneven distribution of resources is investigated in terms of opportunities for new ventures.
  • The socio-economic factors in South Africa that underline the importance of new ventures, are identified with examples .
  • The conditions for the existence of perfect and imperfect markets are explained and related to the south African context.
  • Growth sectors that exist in South Africa are identified for possible new ventures. 
    		•


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • An individual wishing to be assessed (including through RPL) against this Unit Standard may apply to an assessment agency, assessor or provider institution accredited by the relevant ETQA or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Anyone assessing a learner against this Unit Standard must be registered as an assessor with the relevant ETQA. or an ETQA that has a Memorandum of Understanding with the relevant ETQA
  • Any institution offering learning that will enable achievement of this Unit Standard or assessing this Unit Standard must be accredited as a provider with the relevant ETQA or an ETQA that has a Memorandum of Understanding with the relevant ETQA .
  • Moderation of assessment will be conducted by the relevant ETQA at its discretion. 
    		•

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • Capitalism and Communism
  • Market systems
  • Demand and supply
  • Inflation, GDP, Consumer Price Index
  • Balance of Payments, Exchange Rates, Interest Rates
  • Economic cycle
  • Growth sectors of RSA
  • Identifying new venture opportunities. 
    		•

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
  • Identify and solve problems in which responses display that responsible decisions using critical and creative thinking have been made. 
    		•

    UNIT STANDARD CCFO ORGANISING 
  • Organising and managing oneself and one's activities responsibly and effectively in order to understand the way market mechanisms operate. 
    		•

    UNIT STANDARD CCFO COLLECTING 
  • Collect, analyse, organise and critically evaluate information in relevant sources and other written/spoken texts. 
    		•

    UNIT STANDARD CCFO DEMONSTRATING 
  • Demonstrate and understand the world as a set of related systems through engaging in a number of tasks that require integration of information from different sources and from existing knowledge. 
    		•

    UNIT STANDARD CCFO CONTRIBUTING 
  • Exploring education and career opportunities through an awareness of the realities of the South African economy. 
    		•

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 263514, which is "Demonstrate an understanding of the function of the market mechanisms in a new venture", Level 4, 5 Credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  23953   Further Education and Training Certificate: New Venture Creation (SMME)  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2009-05-13  Was SERVICES until Last Date for Achievement 
    Core  20884   National Certificate: New Venture Creation (SMME)  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered"     		 2005-04-10   
    Elective  61669   Further Education and Training Certificate: Community Water, Health and Sanitation Facilitation  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  EWSETA 
    Elective  65029   Further Education and Training Certificate: Music  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  CATHSSETA 
    Elective  58394   National Certificate: Film and Television Production  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  MICTS 
    Elective  65050   National Certificate: Music  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  CATHSSETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. BLC Entertainment 
    2. CHILUTSI TRADING ENTERPRISE 
    3. DINALEDI MANAGEMENT AND SERVICES 
    4. Epitome Villa (Pty)Ltd 
    5. ESKOM GENERATION - PALMIET PUMP STORAGE GRABOUW 
    6. EYETHU NATIONAL COMPUTER COLLEGE PTY LTD 
    7. FILM Mentorship & Training SA 
    8. Frayintermedia Cc 
    9. HAZYVIEW WATER SKILLS ACADEMY 
    10. INDUSTRIES EDUCATION & TRAINING INSTITUTE - PE TTC 
    11. MBOWA COLLEGE PTY LTD 
    12. Media Village Training 
    13. OL Afrika Media 
    14. OPELONG BUSINESS INSTITUTE (PT 
    15. Peo Entle HIV Wellness Management and Youth Skills Development NPO 
    16. POWER SYSTEMS TRAINING, CAPE TOWN 
    17. PROGRESSIVE SCHOOL OF BUSINESS AND ENGINEERING (PTY) LTD 
    18. PRX SCHOOL TEST 
    19. Richfield Graduate Institute of Technology Pty Ltd 
    20. SEANEGO INTERGRATED NATURAL RESOURCES MANAGEMENT 
    21. SOUTH AFRICAN CORPORATE TRAINING ASSOCIATION (PTY) LTD 
    22. THOBOLOGO TRAINING & EDUCATION GROUP 
    23. VUTHLARI MARKETING CONSULTING 
    24. Youth Media Movement 
    25. ZA WIT (PTY) LTD 


    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.