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Elaboration (1) ACHES057

interpreting a range of measures of economic performance and standards of living to identify differences within and between economies

Elaboration (1) ACHES058

examining the trade-offs businesses may need to consider when determining methods to improve their productivity (for example, employing more staff compared with upskilling existing staff)

Elaboration (2) ACHES026

discussing the consequences of an economic or business decision, and reflecting on the effect of alternative actions

Elaboration (3) ACHEK039

investigating the activities of transnational corporations in supply chains and global business activities

establishing questions and/or hypotheses to form the basis of an investigation into a selected issue or event (for example, by asking questions about why it is increasingly important for businesses to seek a competitive advantage or establishing a hypothesis …

Elaboration ACHES049

discussing and reflecting on the outcomes of a decision and identifying those that were intended or unintended

Elaboration ACHEK053

identifying and explaining factors that influence major consumer decisions (for example, price, availability and cost of finance, marketing of products, age and gender of consumer, convenience, ethical and environmental considerations)

Elaboration ACHES055

establishing questions to form the basis of an economic or business investigation into an issue or event, such as ‘Why do standards of living differ within an economy?’, or formulating a hypothesis such as ‘Responding to an upswing in the economy with …

Elaboration (2) ACHES056

determining the source and reliability of data and information and explaining assumptions or missing information in sources that may affect reliability

Elaboration (2) ACHES059

using appropriate indicators of economic performance to explain variations across economies

Elaboration (2) ACHEK017

exploring why businesses might set a certain price for a product (for example, because that’s what they think consumers will pay) and how they might adjust the price according to demand

Elaboration ACHEK029

distinguishing the difference between rights and responsibilities and creating a list of the rights and responsibilities of consumers and businesses

Elaboration (1) ACHES035

undertaking a cost-benefit analysis of alternative ways for a business to respond to opportunities in the market and making a decision about which one to recommend

Elaboration (3) ACHES037

discussing and reflecting on the consequences of a proposed action, and those of the alternative actions

Elaboration (2) ACHEK041

discussing whether the adoption of strategies based around corporate social responsibility can increase the competitive advantage of businesses

Elaboration (2) ACHES043

generating ideas about possible class or school projects and collaboratively developing a plan to guide the project

Elaboration ACHES045

organising the data and information collected into a form that shows the different perspectives around an issue/event (for example, the impact of global events on participants in the Australian economy)

Elaboration (2) ACHES046

using a range of criteria (social, economic, environmental) to select and justify a preferred option

Elaboration (1) ACHEK017

examining how businesses respond to the demands of consumers (for example, preference for healthy options, environmentally friendly packaging or organic food)

Elaboration ACHEK019

investigating successful entrepreneurs and identifying the behaviours and skills that they bring to their business (for example, seeing and taking advantage of an opportunity, establishing a shared vision; demonstrating initiative, innovation and ent …

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