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Elaboration (1) ACHES055

devising the steps needed for an investigation, and evaluating and modifying the plan or adjusting the research focus as appropriate

Elaboration (1) ACHEK050

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

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

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 …

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 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) ACHEK051

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

Elaboration (1) ACHEK053

evaluating the outcomes of buying (for example, a car, using criteria such as the effect of loan repayments on disposable income, depreciation, maintenance and insurance costs compared with the benefits of independence, convenience and social status)

Elaboration (4) ACHEK054

identifying ethical and unethical workplace practices and investigating the impact of these practices on individuals

Elaboration (1) ACHES056

representing data and information in a format to aid interpretation and analysis (for example, providing a timeline of events and/or providing a graph showing changes in data)

Elaboration (3) ACHES057

analysing information to make informed choices (for example, when purchasing goods and services)

Elaboration ACHES058

deciding on a potential major purchase (for example, a car, investigating options, calculating the costs of different purchasing methods and estimating the long-term costs and benefits of owning the asset and repaying the debt)

Elaboration ACHES059

evaluating different types of loans to estimate the short- and long-term financial implications of each

Elaboration (2) ACHES059

using appropriate indicators of economic performance to explain variations across economies

Elaboration (2) ACHES060

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

Elaboration ACHES061

discussing the outcomes of a decision, identifying those that were intended and unintended and reflecting on strategies that may address the unintended consequences

Elaboration ACHES056

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

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