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Elaboration (2) ACHEK020

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

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

using economics and business terms and concepts such as interdependence, trade, comparative advantage, globalisation, supply chain, insurance, savings buffer, intrapreneur, competitive advantage, costs, benefits

Elaboration (2) ACHES036

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

Elaboration (2) ACHEK040

investigating different types of investment that enable people to accumulate savings for the future (for example, shares, term deposits, managed funds)

Elaboration (2) ACHEK052

investigating how Australia supports economic growth in the Asia region through participating in the Asia-Pacific Economic Cooperation (APEC) forum

Elaboration (2) ACHEK017

exploring why businesses might set a certain price for a product (for example, because that’s what they think consumers will pay) and how they might adjust the price according to demand

Elaboration (2) ACHEK030

exploring different external factors that influence business opportunities, such as government and government policy, competitors in the market, demographics, technological innovations in production processes and product design, economic conditions, globalisation, …

Elaboration (2) ACHES026

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

Elaboration (1) ACHEK054

exploring ways businesses structure their working environment to provide flexible, efficient approaches (for example, horizontal (flat) or vertical (tall) organisational structures)

Elaboration (2) ACHES043

generating ideas about possible class or school projects and collaboratively developing a plan to guide the project

Elaboration (2) ACHES044

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

Elaboration (2) ACHEK051

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

Elaboration (2) ACHES059

using appropriate indicators of economic performance to explain variations across economies

Elaboration (2) ACHES060

developing texts for different audiences such as peers, businesses, the public, a business manager/entrepreneur, and for different purposes (for example, to persuade or inform)

Elaboration (2) ACHEK018

explaining how financial records such as income statements, balance sheets, budgets and cash flow statements inform business decision-making

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) ACHEK031

predicting changes to work in the future and possible outcomes (for example, ‘What could be the effect of a changing attitude to work–life balance or the decline of some industries?’)

Elaboration (2) ACHEK041

discussing whether the adoption of strategies based around corporate social responsibility can increase the competitive advantage of businesses

Elaboration (2) ACHES046

using a range of criteria (social, economic, environmental) to select and justify a preferred option

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