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

Curriculum content descriptions

factors that influence major consumer and financial decisions, and the short- and long-term consequences of these decisions (AC9HE10K03)

Elaborations
  • identifying examples of minor and major consumer and financial decisions, and explaining the processes that guide decision-making
  • analysing factors that influence major consumer and financial decisions, such as price, availability and cost of finance, marketing of products, age and gender of consumer, convenience, and ethical and environmental considerations
  • identifying the costs of consumer and financial transactions over time, such as the ability to make loan repayments, available savings, depreciation, and maintenance costs and insurance, as well as the benefits such as independence and convenience when purchasing a car or home
General capabilities
  • Numeracy Numeracy
  • Personal and social capability Personal and Social capability
ScOT terms

Causality,  Financial transactions,  Consumer sovereignty,  Decision making

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