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Elaboration (4) ACHEK030

exploring different internal factors that influence business opportunities, such as the product, location, resources, management and business culture including ability to be adaptable and demonstrate enterprising behaviours and skills

Elaboration (4) ACHEK017

investigating the role and interactions of consumers and producers in the market (for example, using a simple circular flow of income model, demand, supply, price mechanism)

Elaboration (4) ACHEK038

identifying examples of global events that impact on economic activity (for example, environmental, financial, economic, political, technological, social, cultural, sporting events)

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 (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 (4) ACHEK027

identifying reasons government intervenes in the market (for example, to improve economic performance and remedy market failure)

Elaboration (4) ACHEK054

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

Elaboration (4) ACHEK052

identifying examples of externalities (that is, costs or benefits associated with the production or consumption of goods and/or services that affect the wellbeing of third parties or society more generally) and exploring the ways governments can influence …

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