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Achievement Standard Economics and Business Year 7

By the end of Year 7, students describe the interdependence of consumers and producers in the market. They explain the importance of short- and long-term planning to individual and business success and identify different strategies that may be used. They …

Achievement Standard Economics and Business Year 8

By the end of Year 8, students explain how markets operate and recognise why governments may influence the market’s operation. They explain the rights and responsibilities of consumers and businesses in terms of financial and economic decision-making. …

Achievement Standard Economics and Business Year 9

By the end of Year 9, students explain the role of the Australian economy in allocating and distributing resources, and analyse the interdependence of participants in the global economy. They explain the importance of managing financial risks and rewards …

Achievement Standard Economics and Business Year 10

By the end of Year 10, students explain why and how governments manage economic performance to improve living standards. They give explanations for variations in economic performance and standards of living within and between economies. They analyse factors …

ACHES045

Analyse data and information in different formats to explain cause-and-effect relationships, make predictions and illustrate alternative perspectives

Elaborations ScOT Terms

ACHES057

Analyse data and information in different formats to explain cause-and-effect relationships, make predictions and illustrate alternative perspectives

Elaborations ScOT Terms

Elaboration (1) ACHEK018

explaining the need for setting short- and long-term personal financial objectives and prioritising personal financial responsibilities and needs over wants

Elaboration (2) ACHEK018

explaining how financial records such as income statements, balance sheets, budgets and cash flow statements inform business decision-making

Elaboration ACHEK027

identifying who is involved in the market system in Australia and explaining how the market operates through the interactions of the participants (for example, household, business, finance, and government sectors)

Elaboration (2) ACHEK027

explaining how the interaction between buyers and sellers influences prices and how markets enable the distribution and allocation of resources (that is, how do businesses answer the questions of what to produce, how to produce and for whom to produc …

Elaboration (1) ACHEK030

explaining why a person or group of people would choose to establish one type of business rather than another

Elaboration (1) ACHEK038

explaining the objectives of the Australian economy to satisfy needs and wants through the production and distribution of goods and services

Elaboration (3) ACHEK038

explaining the impact of global events on the Australian economy and its trade and investment relations with other countries (for example, a natural disaster in a country of the Asia region)

Elaboration ACHEK040

explaining the role of banks and other deposit-taking institutions (for example, credit unions or building societies, in collecting deposits, pooling savings and lending them to individuals and business)

Elaboration (5) ACHEK040

explaining the financial landscape of Australia and overseas and the forces that shape and affect the financial industry (for example, financial deregulations, technological changes, economic and business activities, consumer and business sentiment about …

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Cross Curriculum Priorities