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Economics and business / Year 7 / Economics and Business Knowledge and Understanding

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Australian Curriculum, Assessment and Reporting Authority

Curriculum content descriptions

Why and how individuals and businesses plan to achieve short-term and long-term personal, organisational and financial objectives (ACHEK018)

Elaborations

identifying ways short- and long-term personal financial objectives can be achieved, for example through developing a budget and having a savings plan
explaining the need for setting short- and long-term personal financial objectives and prioritising personal financial responsibilities and needs over wants
explaining how financial records such as income statements, balance sheets, budgets and cash flow statements inform business decision-making
exploring ways that businesses manage finances and plan in the short- and long-term to achieve organisational and financial objectives (for example, by developing a business plan or borrowing to invest in the business)

General capabilities

Numeracy
Critical and creative thinking
Personal and social capability

ScOT terms

Personal finance, Financial records, Financial analysis, Planning, Financial reports

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Work sample Year 7 Economics and Business: Characteristics of entrepreneurs

TLF-IDA003947

This work sample demonstrates evidence of student learning in relation to aspects of the achievement standards for Year 7 Economics and Business. The primary purpose for the work sample is to demonstrate the standard, so the focus is on what is evident in the sample not how it was created. The sample is an authentic representation ...

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