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Related topic
Economics and business / Year 7 / 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 (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
ScOT terms
Cost-benefit analysis