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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 (2) ACHEK051

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

investigating the innovative ways Aboriginal and Torres Strait Islander Peoples utilise their cultural knowledge in contemporary contexts in enterprising ways (for example, cultural tourism and other business ventures that harness traditional knowledge …

Elaboration (2) ACHES025

identifying links between entrepreneurial behaviour and successful businesses

Elaboration (3) ACHEK030

identifying examples of the different ways businesses respond to opportunities in the market (for example, developing a new product to satisfy demand, changing the way they deliver their products or services to consumers)

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 (2) ACHES044

explaining assumptions or missing information in sources that may affect the reliability of an opinion about the issue

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 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 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 ACHES043

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 (3) ACHEK017

considering how consumers might influence producers in other countries, such as those in the Asia region, to provide goods and services

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 (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 …

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