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Related topic
Economics and Business 7-10 / Year 9 / Knowledge and understanding
Curriculum content descriptions
how economic decision-making involves the interdependence of consumers, businesses, the financial sector and government (AC9HE9K02)
Elaborations
- explaining the interdependent nature of economic decision-making within local, national and global contexts; for example, consumers purchase goods and services, businesses organise production and distribution, and the financial sector facilitates investment
- examining how the nature of globalisation supports transnational corporations use supply chains to develop, produce and deliver a product or service, and explaining the advantages or disadvantages for businesses, workers and consumers
- analysing the implications of interdependence within the global economy for Australian consumers, workers and businesses; for example, costs of the product or service and impacts of disruption or changes to regulations in another country
- identifying examples and explaining how changes to a nation’s economic conditions affects other nations; for example, rising unemployment affects consumer demand in one country and impacts the exports of goods and services in another country
General capabilities
ScOT terms
Supply chain, Circular income flow, Globalisation