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Elaboration ACHEK039

exploring Australia's interdependence with other economies and brainstorming the ways that consumers, producers, workers and governments interact with other economies

Elaboration ACHES060

using economics and business terms and concepts such as indicators, economic performance, business cycle, organisational structure, workforce management, interest rates

Elaboration (1) ACHEK020

exploring different types of work such as full-time, part-time, casual, at home, paid, unpaid, unrecognised, volunteer

Elaboration (1) ACHES021

identifying the steps needed for an investigation and the resources needed

Elaboration ACHEK030

comparing different forms of business ownership (for example, sole proprietorship, partnership, corporation, cooperative, franchise)

exploring different external factors that influence business opportunities, such as government and government policy, competitors in the market, demographics, technological innovations in production processes and product design, economic conditions, globalisation, …

Elaboration (4) ACHEK040

identifying ways consumers can protect themselves from risks (for example, through setting financial goals, insurances, savings, investments, diversification, scam avoidance and superannuation)

Elaboration ACHEK041

identifying the reasons businesses seek to build or create a competitive advantage (for example, to meet the changing demands of a competitive global market and improve their profit margins)

Elaboration ACHEK050

identifying indicators of economic performance such as economic growth rates, unemployment trends, inflation rates, sustainability indexes

Elaboration ACHEK052

identifying examples of fiscal and monetary policy options designed to improve the standard of living, such as productivity policy, training and workforce development, taxation, work visas, migration, buying or selling government securities

Elaboration (1) ACHEK054

exploring ways businesses structure their working environment to provide flexible, efficient approaches (for example, horizontal (flat) or vertical (tall) organisational structures)

Elaboration (3) ACHEK054

exploring the reasons for triple bottom line business planning and the possible implications for employees, competitors and the broader economy

Elaboration (1) ACHES037

developing different presentations for different audiences such as peers, businesses or the public, and for different purposes (for example, to persuade or inform)

Elaboration (1) ACHES048

developing texts for different audiences such as peers, businesses, the public, and for different purposes (for example, to persuade or inform)

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 ACHES021

developing questions to form the basis of an economic or business investigation (for example, ‘Why do people work?’, ‘Why is it important to plan ways to achieve personal financial objectives?’, 'Why are consumers and producers reliant on each other?', …

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 ACHES032

developing targeted questions to form the basis of an investigation of an economic or business issue or event (for example, ‘How are the prices of products determined through the interaction of participants in the market?’, 'How should a business respond …

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