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

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

Moving Image

MoneySmart: money makes the world go around

This is a video animation about how money's increasing invisibility affects young people and why the teaching and learning of financial and consumer literacy is important. The video presents statistics on 12 to 24 year olds in debt; young people who rarely pay their credit card balance each month; 10 to 17 year olds who ...

Interactive Resource

MoneySmart: Rookie for educators

This is a suite of resources about making smart financial decisions in six situations where a young person assumes full adult responsibility for the first time. These include buying a car, borrowing money, owning a mobile phone, moving out of home, shopping online, and managing their first job. Resources for each situation ...

Moving Image

MoneySmart: case studies

This is a collection of four teacher professional development videos providing case studies of financial literacy and enterprise programs in five schools. The schools vary in size, type and student population. One is a secondary college, three are primary schools and the fifth is a special school. The videos show their ...

Moving Image

MoneySmart: changing world of consumerism

This is a video in which finance and society experts Paul Clitheroe, Delia Rickard and Jane Caro discuss how changing patterns of consumer spending funded by borrowed money affect young people's lives and society's happiness. They point to young children's misconceptions about where money comes from, young people's use ...

Teacher resource

MoneySmart: money management kit

This is a kit about financial and consumer literacy for use by those who work with people with English as an additional language of dialect (EALD) recently arrived in Australia. It contains detailed programs of adult instruction, factsheets, audio stories, and videos for 10 topics: household budgets, saving money, paying ...

Moving Image

MoneySmart: classroom resources

This is a collection of seven videos about financial and consumer issues that affect young people. Five of the videos show young people dealing with the mistakes they have made in maxing out their credit cards, buying a car, moving out of home, taking their first job, or shopping online. The secondary school simulation ...

Teacher resource

MoneySmart: Reaching goals: What's involved?

This unit of work students learn about financial planning through the characters Cathy and Dinuka who are Year 10 students planning to go on a holiday together at the end of Year 12. Students learn about goal setting, saving, borrowing, investing, working with compound interest, good and bad credit, depreciation and inflation.

Moving Image

MoneySmart: professional learning

This is a collection of ten teacher professional development videos about how children and young people deal with consumer, business and finance issues and why financial literacy programs in schools are important. One video in the series presents telling statistics on the financial transactions of 10 to 24 year olds. Three ...

Moving Image

MoneySmart: teens and consumer issues

This is a video in which secondary students recount their experiences with mobile phones. They explain why they chose a contract or a prepaid plan for their phone and the advantages and disadvantages of each; describe how they accrued excess charges by downloading too much data, or didn't get full value from their prepaid ...

Teacher resource

MoneySmart: teens talk money

This is a year 10 English unit of work about investigating financial and consumer issues that affect young people and presenting them as a TV talk show. Intended to take about ten hours, the unit consists of seven student activities supported by teacher notes. Activities include researching topics such as part-time employment, ...

Moving Image

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 ...

Moving Image

Carey Bros Queensland

This is a video about the operation of the Carey Brothers meat production business. Introduced by Greg Carey, the video shows beef cattle at the company's abattoir as he lists the numbers of cattle, lambs and pigs processed in a typical week and the numbers of staff employed at the plant. He praises the resilience of the ...

Moving Image

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 ...

Text

Banking on Shaky Ground

This is a teaching and learning resource about the role of, and risks for, the 'Big Four' Australian banks in investing in overseas companies making land grabs to support their production supply chains in countries such as Papua New Guinea, Brazil, Cambodia, Indonesia and Malaysia. The resource consists of an eBooklet presenting ...

Teacher resource

Australia's Trade through Time

Using an interactive timeline created by the Department of Foreign Affairs and Trade, this Teacher guide provides 12 series of learning experiences that engage students in the analysis and interpretation of data about Australian trade from 1900 to the present day. Students study videos, tables, images and texts in order ...

Teacher resource

Trade and Investment at a Glance

Using an illustrated report from the Department of Foreign Affairs and Trade, this Teacher guide provides ten learning sequences that engage students in the analysis and interpretation of data about Australian imports and exports. Students: identify Australia's major exports and imports; investigate international trade ...