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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)

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

Elaboration ACHEK038

identifying participants in the open Australian economy including household, business, finance, government and foreign sectors

Elaboration (1) ACHEK038

explaining the objectives of the Australian economy to satisfy needs and wants through the production and distribution of goods and services

Elaboration (2) ACHEK038

identifying Australia’s major trading partners in the Asia region and the items of trade

Elaboration (3) ACHEK038

explaining the impact of global events on the Australian economy and its trade and investment relations with other countries (for example, a natural disaster in a country of the Asia region)

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 ACHEK039

exploring Australia's interdependence with other economies and brainstorming the ways that consumers, producers, workers and governments interact with other economies

Elaboration (1) ACHEK039

locating a range of products in the local shopping centre that were produced overseas, and proposing reasons why they were not produced in Australia (for example, comparative advantage and gains from specialisation and trade)

Elaboration (2) ACHEK039

examining the implications of participating in an interdependent global economy for consumers, workers, businesses and government (for example, mapping the global supply chain for a product to identify the advantages and disadvantages for participants …

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