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

Curriculum content descriptions

the rights and responsibilities of individuals and businesses in relation to consumer and financial products and services (AC9HE7K05)

Elaborations
  • distinguishing the difference between rights and responsibilities, and creating a list of the rights and responsibilities of individuals and businesses
  • explaining the rights of individuals and businesses in relation to consumer and financial products and services; for example, warranties, cooling-off periods and processes for returning goods
  • discussing the responsibilities of businesses in relation to consumer and financial products and services, such as the role of mandatory and voluntary standards, and product safety recalls
  • explaining the importance of developing personal or business budgets or savings plans before making decisions in relation to consumer and financial products and services
General capabilities
  • Personal and social capability Personal and Social capability
  • Ethical understanding Ethical understanding
Video

My Five Cents: Why borrowing can cost you more

Think credit cards are basically free money? Gen Fricker will make you think again. Learn how interest rates and fees affect the money you borrow, and why they may be more expensive in the long run. Oh dear! Then test yourself with ASIC MoneySmart's "Things to think about" classroom exercises.  

Video

Prawn Farming

This is a short clip in which Gold Coast prawn farner, Nick Moore, describes the prawn farming industry, the business he manages, and the high standards of the Australian industry. Nick, explains why this business is more like agricultural farming than fishing and how his qualifications and experience more closely match ...

Online

IP in everyday life

This is an interactive resource about products that exist in everyday life that have protected intellectual property. The resource is presented as a timeline of one day, beginning at breakfast in the morning through until night. Interactive images appear as the mouse scrolls across the timeline. These images are linked ...