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Elaboration ACHEK051

defining ‘living standards’ and explaining its relationship to economic performance

Elaboration (3) ACHEK052

explaining the impact of minimum wage, government payments, taxation and government-funded services on living standards

Elaboration (2) ACHES057

explaining relationships identified in data (for example, the relationship between standards of living, infant mortality and access to health services)

Elaboration (2) ACHEK051

investigating economic performance and living standards and discussing how they can mean different things to different people and countries

Elaboration (1) ACHES057

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

Elaboration (2) ACHEK029

identifying examples of how businesses are required by government to protect the safety of consumers (for example, mandatory and voluntary standards, product safety recalls)

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)

investigating the contribution that work can make to an individual (for example, earning an income, contributing to an individual’s self-esteem, contributing to the community, material and non-material living standards and happiness)

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 …

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