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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 (1) ACHES032

devising the steps needed for an investigation and modifying as required

Elaboration ACHES033

organising and categorising data and/or information (for example, constructing a table showing the differences between types of businesses)

Elaboration (1) ACHES033

accessing reliable information (for example, from departments of fair trading) to access advice on the rights and responsibilities of consumers and businesses, or finding information on strategies to resolve consumer and business disputes

Elaboration ACHES034

interpreting data in tables, charts and graphs to identify relationships (for example, correlations between the location of groups and access to work opportunities)

Elaboration ACHES035

identifying opportunities in the market for a business and proposing alternative ways to take advantage of these

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) ACHES035

exploring an Aboriginal or Torres Strait Islander business or enterprise, analysing how it has responded to an issue or opportunity, and applying a cost-benefit analysis

Elaboration ACHES036

applying informed decision-making skills to familiar and new situations (for example, helping the family decide what products they need to purchase during the week)

Elaboration (1) ACHES036

applying enterprising behaviours to everyday activities (for example, by taking on a leadership role in a project, accepting responsibility for decisions made, or setting a goal for the week and developing a plan to achieve it)

Elaboration (2) ACHES036

demonstrating an understanding of their rights as consumers when buying an item or returning it to the store

Elaboration ACHES037

constructing appropriate displays of information and data to show trends and relationships (for example, preparing a data show which includes visual displays including graphs and charts as well as text to present findings and conclusions)

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 (2) ACHES037

using economics and business terms and concepts such as interdependence, market economy, market system, price setting, outsourcing, business ownership, rights and responsibilities

Elaboration (3) ACHES037

discussing and reflecting on the consequences of a proposed action, and those of the alternative actions

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