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Elaboration ACHEK019

investigating successful entrepreneurs and identifying the behaviours and skills that they bring to their business (for example, seeing and taking advantage of an opportunity, establishing a shared vision; demonstrating initiative, innovation and ent …

Elaboration (1) ACHEK019

observing local businesses to identify factors that contribute to their success (for example, location, quality of service, a high-quality product, sound management practices)

Elaboration ACHEK020

investigating the contribution that work can make to an individual (for example, earning an income, contributing to an individual’s self-esteem, contributing to the community, material and non-material living standards and happiness)

Elaboration (1) ACHEK020

exploring different types of work such as full-time, part-time, casual, at home, paid, unpaid, unrecognised, volunteer

Elaboration (2) ACHEK020

investigating alternative sources of income such as through owning a business, being a shareholder, providing a rental service

Elaboration (3) ACHEK020

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

Elaboration ACHES021

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 (1) ACHES021

identifying the steps needed for an investigation and the resources needed

Elaboration ACHES022

identifying sources of data and information (for example, Australian Bureau of Statistics for information on types of employment (full-time, part-time, casual))

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 (1) ACHES023

using data to make predictions about future trends (for example, the trend of shopping online, trends in working hours or how people work)

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 (1) ACHES024

identifying the costs and benefits associated with alternatives (for example, the costs and benefits of being an employee compared with being a business owner)

Elaboration ACHES025

creating simple budgets to achieve specific financial goals and using digital and online tools to keep financial records in a ‘real-life’ context

Elaboration (1) ACHES025

applying enterprising behaviours to a class activity (for example, by taking on a leadership role in a project, establishing goals, accepting responsibility, and negotiating and working with others during the investigation)

Elaboration (2) ACHES025

identifying links between entrepreneurial behaviour and successful businesses

Elaboration ACHES026

communicating findings in different formats such as graphs, tables, spreadsheets, visual displays and reports

Elaboration (1) ACHES026

using economics and business terms when presenting conclusions such as market, workforce, income, financial objectives, entrepreneurial behaviours and skills, costs and benefits

Elaboration (2) ACHES026

discussing the consequences of an economic or business decision, and reflecting on the effect of alternative actions

Elaboration ACHEK027

identifying who is involved in the market system in Australia and explaining how the market operates through the interactions of the participants (for example, household, business, finance, and government sectors)

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