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Economics and business / Year 7 / Economics and Business Knowledge and Understanding

View on Australian Curriculum website Australian Curriculum, Assessment and Reporting Authority
Curriculum content descriptions

The ways consumers and producers interact and respond to each other in the market  (ACHEK017)

Elaborations
  • investigating how consumers rely on businesses to meet their needs and wants
  • examining how businesses respond to the demands of consumers (for example, preference for healthy options, environmentally friendly packaging or organic food)
  • 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
  • considering how consumers might influence producers in other countries, such as those in the Asia region, to provide goods and services
  • investigating the role and interactions of consumers and producers in the market (for example, using a simple circular flow of income model, demand, supply, price mechanism)
General capabilities
  • Critical and creative thinking Critical and creative thinking
  • Personal and social capability Personal and social capability
  • Ethical understanding Ethical understanding
ScOT terms

Supply and demand,  Pricing

Video

Bees and Berries a great combination

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Video

Get Shucked Oysters

This is a short clip about a Tasmanian oyster farmer producing and serving farm-fresh oysters on site on Bruny Island. In this clip, oyster farmer and business owner, Joe Bennett, describes how he established his business from very small beginnings and has grown it to satisfy consumer demand. Watch to find out how this ...

Online

The Farm Game

This is a resource about the relationship between consumers and producers in the market. It is presented as a teacher guide and includes learning outcomes, a description, setting the scene information and a work task. The work task involves an investigation of different types of farmers and primary producers and a whole ...

Video

Rugby Farms – Horticulture and changes in farming practice

This is a video about farmer and business man Matt Hood and how he, his father and brother operate Rugby Farm, a vegetable production agribusiness. It shows scenes of the business past and present as he tells of the many generations who have worked the farm, the 12,000 acres of vegetables grown each year, and the exciting ...

Online

Growing Exotic Fruit - a niche farming enterprise

This unit of work uses the operation of an small agribusiness to explore what it means to be a producer in a small scale business. The unit focuses on the operation of a real-life, exotic fruit farm in northern New South Wales from which fruits are sold to local markets. The units provides five inquiry-based activities ...

Video

Finding farms: producer video

This is a video about how lobsters are harvested and processed in South Australia for live export to China. In the first part of the video, Mark Denton, a professional rock lobster fisherman describes how the sustainability of the lobster fishery is ensured; compares and contrasts his work with farming any other form of ...