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Elaboration (2) ACHEK018

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

Elaboration (3) ACHEK020

discussing the ways people who have retired from employment earn an income (for example, age pension, superannuation and private savings)

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 ACHES023

interpreting tables, charts and graphs containing economic or business data to identify trends (for example, to answer the question: ‘To what extent has the number of people in casual work increased?’)

Elaboration (3) ACHEK027

identifying examples of government involvement in the market through reallocation of resources, regulation of economic activity or redistribution of income (for example, providing some types of goods and services not being provided sufficiently by the …

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 …

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 ACHES056

collecting data and information from a variety of sources relevant to the issue or event being investigated

Elaboration ACHES057

categorising and interpreting data and information collected into a form that shows multiple perspectives around an issue/event

Elaboration ACHES060

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

Elaboration (1) ACHES060

communicating findings of the investigation in appropriate formats (for example, web pages, financial statements, spreadsheets, graphs and reports)

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) ACHEK017

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

Elaboration ACHES024

examining the trade-offs involved in making choices about how to earn an income (for example, working as an employee or owning your own business)

Elaboration ACHEK029

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

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)

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