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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 (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 (3) ACHEK051

investigating the ways living standards can be measured (for example, gross domestic product (GDP), Human Development Index (HDI) or total quality of life index)

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 (3) ACHEK018

exploring ways that businesses manage finances and plan in the short- and long-term to achieve organisational and financial objectives (for example, by developing a business plan or borrowing to invest in the business)

Elaboration (3) ACHEK030

identifying examples of the different ways businesses respond to opportunities in the market (for example, developing a new product to satisfy demand, changing the way they deliver their products or services to consumers)

Elaboration (3) ACHES037

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

Elaboration (2) ACHES026

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

Elaboration (3) ACHEK039

investigating the activities of transnational corporations in supply chains and global business activities

Elaboration (3) ACHES057

analysing information to make informed choices (for example, when purchasing goods and services)

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

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