Economics and business / Year 10 / Economics and Business Knowledge and Understanding

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Curriculum content descriptions

Factors that influence major consumer and financial decisions and the short- and long-term consequences of these decisions (ACHEK053)

Elaborations
  • identifying and explaining factors that influence major consumer decisions (for example, price, availability and cost of finance, marketing of products, age and gender of consumer, convenience, ethical and environmental considerations)
  • evaluating the outcomes of buying (for example, a car, using criteria such as the effect of loan repayments on disposable income, depreciation, maintenance and insurance costs compared with the benefits of independence, convenience and social status)
  • identifying the difference between minor and major consumer and financial decisions and listing examples of each
General capabilities
  • Personal and social capability Personal and social capability
  • Ethical understanding Ethical understanding
ScOT terms

Causality,  Supply and demand

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