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

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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
  • Ethical understanding Ethical understanding
  • Personal and social capability Personal and Social capability

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3 direct matches to AC9HE7K05

Video

My Five Cents: What is opportunity cost?

  • TLF-IDM025253

What is the true cost of buying something? Gen Fricker explains that it's more than just money. Learn about opportunity cost - what it is, why it's a helpful tool and when to use it. Simple! Then test yourself with ASIC MoneySmart's "Things to think about" classroom exercises.

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Text

Moving out of home

  • TLF-IDA005438

This lesson explores costs and responsibilities associated with moving out of home and setting up living arrangements. The resource is part of a suite of lesson plans and activities from MoneySmart, designed to bring everyday financial topics into the classroom.

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Video

My Five Cents: Why borrowing can cost you more

  • TLF-IDM025250

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.  

View detailsView resource