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Economics and business / Year 7 / Economics and Business Skills / Economic reasoning, decision-making and application

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

Generate a range of alternatives in response to an observed economic or business issue or event, and evaluate the potential costs and benefits of each alternative (ACHES024)

Elaborations
  • examining the trade-offs involved in making choices about how to earn an income (for example, working as an employee or owning your own business)
  • identifying the costs and benefits associated with alternatives (for example, the costs and benefits of being an employee compared with being a business owner)
General capabilities
  • Literacy Literacy
  • Numeracy Numeracy
  • Critical and creative thinking Critical and creative thinking
  • Ethical understanding Ethical understanding
ScOT terms

Cost-benefit analysis

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Year level 7-8
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Learning area Economics and business

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Moving Image

Why investing can be risky

Planning to get rich quick by investing one day? Before you jump in, let Gen Fricker explain some of the risks involved with different types of investments. Then test yourself with ASIC MoneySmart's "Things to think about" classroom exercises.  

Teacher resource

How much is that?

This learning activity consists of a series of online resources supporting students to engage, explore and reflect on the prices of some everyday foods sold in Australia and countries of the Asia region. Students analyse data and information to compare and contrast the pricing of a range of common food items in Australia ...