Economics and Business 7-10 / Year 10 / Knowledge and understanding

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Curriculum content descriptions

how and why the economic indicators influence economic decision-making (AC9HE10K01)

Elaborations
  • identifying examples of economic indicators, such as economic growth rates, unemployment trends, inflation rates or sustainability indexes
  • analysing how the Australian Government may intervene in response to an emerging economic issue or to changes in economic indicators, such as to maintain or improve the standard of living or respond to a decline in gross domestic product
  • explaining economic objectives of the Australian Government (for example, economic growth, full employment and price stability) and how these have been framed in response to economic indicators (for example, gross domestic product, business sales or earnings, inflation)
  • identifying an example of an economic indicator, such as employment statistics, and explaining how it influences government economic decision-making; for example, by providing support for new apprenticeships and training places
General capabilities
  • Critical and creative thinking Critical and Creative Thinking
ScOT terms

Business cycles,  Economy,  Decision making

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