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Related topic
Economics and business / Year 8 / Economics and Business Skills / Economic reasoning, decision-making and application
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 (ACHES035)
Elaborations
- identifying opportunities in the market for a business and proposing alternative ways to take advantage of these
- undertaking a cost-benefit analysis of alternative ways for a business to respond to opportunities in the market and making a decision about which one to recommend
- exploring an Aboriginal or Torres Strait Islander business or enterprise, analysing how it has responded to an issue or opportunity, and applying a cost-benefit analysis
General capabilities
ScOT terms
Cost-benefit analysis