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Elaboration (1) ACHEK039

locating a range of products in the local shopping centre that were produced overseas, and proposing reasons why they were not produced in Australia (for example, comparative advantage and gains from specialisation and trade)

Elaboration (2) ACHEK039

examining the implications of participating in an interdependent global economy for consumers, workers, businesses and government (for example, mapping the global supply chain for a product to identify the advantages and disadvantages for participants …

Elaboration (2) ACHEK040

investigating different types of investment that enable people to accumulate savings for the future (for example, shares, term deposits, managed funds)

Elaboration ACHEK042

identifying the responsibilities of various participants in a particular workplace (for example, employers, employees, industrial organisations or state, territory and Commonwealth governments)

Elaboration (1) ACHEK042

examining changes to the roles of employees in the workplace (for example, the increasing encouragement for workers to show initiative or act as intrapreneurs)

Elaboration (2) ACHEK042

identifying employer responsibilities to workers and the government (for example, superannuation, paid parental leave, income tax, company tax or the Goods and Services Tax (GST))

Elaboration ACHES044

collecting relevant data and information (for example, researching the current Australian and global financial landscape or ways to manage financial risks and rewards)

Elaboration (1) ACHES045

using data to make predictions about future trends (for example, the way businesses operate in the global economy or trends in Australia’s trade with countries of the Asia region)

Elaboration ACHES046

identifying and comparing possible alternatives to address a problem such as how to manage over-indebtedness

Elaboration (1) ACHEK050

investigating the performance of the Australian economy using key indicators and explaining fluctuations using phases of the business cycle

Elaboration (1) ACHEK051

exploring the factors that can explain the variations in economic performance within or between economies (for example, high levels of foreign ownership, employment rates, levels of debt)

Elaboration (3) ACHEK051

investigating the ways living standards can be measured (for example, gross domestic product (GDP), Human Development Index (HDI) or total quality of life index)

Elaboration (4) ACHEK051

investigating the ways in which income and wealth are distributed in the economy, using measures such as an income distribution histogram, the Lorenz curve or the Gini coefficient

Elaboration (2) ACHEK052

investigating how Australia supports economic growth in the Asia region through participating in the Asia-Pacific Economic Cooperation (APEC) forum

Elaboration (4) ACHEK052

identifying examples of externalities (that is, costs or benefits associated with the production or consumption of goods and/or services that affect the wellbeing of third parties or society more generally) and exploring the ways governments can influence …

Elaboration (2) ACHEK054

exploring the use of technology and the extent to which it has driven and allowed innovative responses by business

Elaboration (5) ACHEK054

investigating ways that businesses have responded to improving economic conditions (for example, increasing their research and development funding to create innovative products, adjusting marketing strategies to expand their market share, upskilling their …

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