Learn About Personal and Family Resources for Savings | Primary 5 Social Studies

Social Studies Primary 5 Second Term

  1. Organization:
    • Definition: A structured group of people working together to achieve common goals.
    • Examples: Red Cross Society, Green Earth Initiative.
  2. Leader:
    • Definition: A person who guides, inspires, and influences others within an organization or group.
    • Qualities: Integrity, good communication skills.
  3. Personal Resources:
    • Definition: Skills, abilities, knowledge, and qualities possessed by an individual.
    • Examples: Time management skills, creativity.
  4. Saving:
    • Definition: Setting aside money for future needs or goals rather than spending it all immediately.
    • Reasons for Savings: Education expenses, emergencies.
  5. Family Resources:
    • Definition: Assets and support systems available within a family.
    • Examples: Family savings fund, emotional support.
  6. Reasons for Poor Savings:
    • Lack of financial discipline, unexpected expenses.
  7. Commercial Banks in Nigeria:
    • Examples: First Bank of Nigeria, Access Bank.
  8. Capital:
    • Definition: Money or assets used to start or invest in a business or project.
  9. Ways of Saving in the Olden Days:
    • Keeping money in clay pots buried underground, using livestock as savings.
  10. Marriage:
    • Definition: A legally recognized union between two individuals.

Understanding these concepts is crucial for Primary 5 students as they learn about personal finance, social structures, and economic principles.

  1. What is an organization?
    • Answer: An organization is a structured group of people working together to achieve common goals.
  2. Who is considered a leader within an organization?
    • Answer: A leader is someone who guides, inspires, and influences others within an organization or group.
  3. What are family resources?
    • Answer: Family resources refer to assets and support systems available within a family unit.
  4. Can you provide examples of personal resources?
    • Answer: Personal resources include skills, abilities, knowledge, and qualities possessed by an individual, such as time management skills and creativity.
  5. What is the importance of saving?
    • Answer: Saving is crucial for meeting future needs such as education expenses and unexpected emergencies.
  6. What are some qualities of a good leader?
    • Answer: Good leaders exhibit qualities such as integrity, good communication skills, and the ability to make sound decisions.
  7. What are common reasons for poor savings habits?
    • Answer: Poor savings habits can result from a lack of financial discipline or unexpected expenses that drain savings.
  8. Can you name two commercial banks in Nigeria?
    • Answer: Examples of commercial banks in Nigeria include First Bank of Nigeria and Access Bank.
  9. How did people save money in the olden days?
    • Answer: In the past, people saved money by keeping it in clay pots buried underground or by using livestock as a form of savings.
  10. What is the definition of capital?
    • Answer: Capital refers to money or assets used to start or invest in a business or project, contributing to economic growth and development

Understanding Family Values and Household Essentials | Primary 5 Home Economics

  1. A leader guides, inspires, and influences others within an ______________.
    • a) Community
    • b) Institution
    • c) Organization
    • d) Assembly
    • Answer: c) Organization
  2. Family resources refer to assets and support systems available within a ______________.
    • a) Club
    • b) School
    • c) Family unit
    • d) Workplace
    • Answer: c) Family unit
  3. ___________ include skills, abilities, knowledge, and qualities possessed by an individual.
    • a) Family resources
    • b) Personal resources
    • c) Educational tools
    • d) Workplace equipment
    • Answer: b) Personal resources
  4. ___________ is crucial for meeting future needs such as education expenses and unexpected emergencies.
    • a) Saving
    • b) Spending
    • c) Borrowing
    • d) Donating
    • Answer: a) Saving
  5. Good leaders exhibit qualities such as integrity, good __________, and the ability to make sound decisions.
    • a) Communication skills
    • b) Cooking abilities
    • c) Driving skills
    • d) Artistic talents
    • Answer: a) Communication skills
  6. Poor savings habits can result from a lack of __________ or unexpected expenses that drain savings.
    • a) Knowledge
    • b) Skills
    • c) Financial discipline
    • d) Communication
    • Answer: c) Financial discipline
  7. Examples of commercial banks in Nigeria include First Bank of Nigeria and __________.
    • a) Unity Bank
    • b) Zenith Bank
    • c) Diamond Bank
    • d) Keystone Bank
    • Answer: b) Zenith Bank
  8. In the past, people saved money by keeping it in clay pots buried __________.
    • a) In the river
    • b) Underground
    • c) On trees
    • d) In caves
    • Answer: b) Underground
  9. Capital refers to money or assets used to start or invest in a __________.
    • a) Job
    • b) Hobby
    • c) Business or project
    • d) Charity
    • Answer: c) Business or project
  10. _____________ are skills, abilities, knowledge, and qualities possessed by an individual.
    • a) Family resources
    • b) Personal resources
    • c) Educational tools
    • d) Workplace equipment
    • Answer: b) Personal resources
  11. Saving is setting aside money for future needs or goals rather than __________.
    • a) Spending it all immediately
    • b) Investing it wisely
    • c) Donating it to charity
    • d) Hiding it away
    • Answer: a) Spending it all immediately
  12. Good leaders exhibit qualities such as integrity, good __________, and the ability to make sound decisions.
    • a) Communication skills
    • b) Cooking abilities
    • c) Driving skills
    • d) Artistic talents
    • Answer: a) Communication skills
  13. ___________ is crucial for meeting future needs such as education expenses and unexpected emergencies.
    • a) Saving
    • b) Spending
    • c) Borrowing
    • d) Donating
    • Answer: a) Saving
  14. Poor savings habits can result from a lack of __________ or unexpected expenses that drain savings.
    • a) Knowledge
    • b) Skills
    • c) Financial discipline
    • d) Communication
    • Answer: c) Financial discipline

Second Term Revision and Readiness Test Social Studies Primary 5 Second Term Lesson Notes Week 1

 

Answer the following questions

  1. What is an organization?
    • Definition: _________________________________________________________________

  2. Write out two examples of organizations?
    • Examples: a) _______________________________________________________________________ b) _______________________________________________________________________
  3. Who is a leader?
    • Definition: _________________________________________________________________

  4. List two qualities of a good leader.
    • Qualities: a) _______________________________________________________________________ b) _______________________________________________________________________
  5. What are personal resources?
    • Definition: _________________________________________________________________

  6. Give two examples of personal resources.
    • Examples: a) _______________________________________________________________________ b) _______________________________________________________________________
  7. What is saving?
    • Definition: _________________________________________________________________

  8. What are family resources?
    • Definition: _________________________________________________________________

  9. List two examples of family resources.
    • Examples: a) _______________________________________________________________________ b) _______________________________________________________________________
  10. Mention two reasons for savings.
    • Reasons for Savings: a) _______________________________________________________________________ b) _______________________________________________________________________
  11. List two reasons for poor savings or no savings.
    • Reasons for Poor Savings: a) _______________________________________________________________________ b) _______________________________________________________________________
  12. Give two examples of commercial banks in Nigeria.
    • Examples: a) _______________________________________________________________________ b) _______________________________________________________________________
  13. What is capital?
    • Definition: _________________________________________________________________

  14. List two ways of saving in the olden days.
    • Ways of Saving in the Olden Days: a) _______________________________________________________________________ b) _______________________________________________________________________
  15. What is marriage?
    • Definition: _________________________________________________________________

Here are the answers corresponding to each question:

  1. What is an organization?
    • Definition: An organization is a structured group of people working together to achieve common goals.
  2. Write out two examples of organizations?
    • Examples: a) Red Cross Society b) Green Earth Initiative
  3. Who is a leader?
    • Definition: A leader is a person who guides, inspires, and influences others within an organization or group.
  4. List two qualities of a good leader.
    • Qualities: a) Integrity b) Good communication skills
  5. What are personal resources?
    • Definition: Personal resources are skills, abilities, knowledge, and qualities possessed by an individual.
  6. Give two examples of personal resources.
    • Examples: a) Time management skills b) Creativity
  7. What is saving?
    • Definition: Saving is setting aside money for future needs or goals rather than spending it all immediately.
  8. What are family resources?
    • Definition: Family resources are assets and support systems available within a family.
  9. List two examples of family resources.
    • Examples: a) Family savings fund b) Emotional support
  10. Mention two reasons for savings.
    • Reasons for Savings: a) Education expenses b) Emergencies
  11. List two reasons for poor savings or no savings.
    • Reasons for Poor Savings: a) Lack of financial discipline b) Unexpected expenses
  12. Give two examples of commercial banks in Nigeria.
    • Examples: a) First Bank of Nigeria b) Access Bank
  13. What is capital?
    • Definition: Capital refers to money or assets used to start or invest in a business or project.
  14. List two ways of saving in the olden days.
    • Ways of Saving in the Olden Days: a) Keeping money in clay pots buried underground b) Using livestock as savings
  15. What is marriage?
    • Definition: Marriage is a legally recognized union between two individuals, usually a man and a woman to become husband and wife
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