Economy, Work and Technology: notes

Sectors of the economy

• Agriculture: farming, such as maize, tobacco and cotton.
• Mining: gold, platinum, lithium and coal.
• Manufacturing: turning raw materials into goods.
• Tourism and services: Victoria Falls, banking, transport and education.

Work and money

• Formal sector: registered businesses with regular pay and tax.
• Informal sector: small unregistered businesses such as vending.
• Entrepreneur: a person who starts a business and takes the risk.
• Taxes: money paid to government to fund schools, roads and clinics.
• Saving: keeping money safe for later, for example in a bank.

Technology

• ICT (information and communication technology): phones, computers and the internet. It helps with learning, trade and mobile money.
• Education 5.0: teaching, research, community service, innovation and industrialisation.

Common mistake

Do not confuse the informal sector with illegal work. It is legal but not formally registered.