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Elaboration ACHES044

collecting relevant data and information (for example, researching the current Australian and global financial landscape or ways to manage financial risks and rewards)

Elaboration (1) ACHES044

using strategies to determine the reliability of information collected (for example, taking into account the author, purpose, audience, medium)

Elaboration (2) ACHES044

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

organising the data and information collected into a form that shows the different perspectives around an issue/event (for example, the impact of global events on participants in the Australian economy)

Elaboration (1) ACHES045

using data to make predictions about future trends (for example, the way businesses operate in the global economy or trends in Australia’s trade with countries of the Asia region)

Elaboration ACHES046

identifying and comparing possible alternatives to address a problem such as how to manage over-indebtedness

Elaboration (1) ACHES046

evaluating the costs and benefits of a range of alternatives such as strategies for a business seeking to remain competitive in the global market

Elaboration (2) ACHES046

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

Elaboration ACHES047

applying enterprising behaviours to class and everyday activities (for example, by taking on a leadership role in a project, establishing goals that are meaningful and realistic, accepting responsibility)

Elaboration (1) ACHES047

applying different strategies for mitigating risks, such as using procedures for safe and secure online banking and shopping (for example, checking bank/credit card statements; using credible, secure websites)

Elaboration ACHES048

representing data in different forms such as charts, tables and graphs, maps or models to communicate findings

Elaboration (1) ACHES048

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

Elaboration (2) ACHES048

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 ACHES049

discussing and reflecting on the outcomes of a decision and identifying those that were intended or unintended

Elaboration ACHEK050

identifying indicators of economic performance such as economic growth rates, unemployment trends, inflation rates, sustainability indexes

Elaboration (1) ACHEK050

investigating the performance of the Australian economy using key indicators and explaining fluctuations using phases of the business cycle

Elaboration ACHEK051

defining ‘living standards’ and explaining its relationship to economic performance

Elaboration (1) ACHEK051

exploring the factors that can explain the variations in economic performance within or between economies (for example, high levels of foreign ownership, employment rates, levels of debt)

Elaboration (2) ACHEK051

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

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)

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