HASS F-6 / Year 6 / Knowledge and understanding / Economics and Business

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Curriculum content descriptions

influences on consumer choices and strategies that can be used to help make informed personal consumer and financial choices (AC9HS6K08)

Elaborations
  • identifying goods they have purchased, and categorising and explaining factors that influence consumer purchasing decisions, including personal preferences, social trends, economic factors such as budgets and the amount of money available to spend, psychological factors such as advertising and peer pressure, and cultural, environmental, legal and ethical factors
  • comparing the influence of a variety of selling and advertising strategies used by businesses on consumer choices; for example, the influence of television and internet advertising compared to email promotions
  • recognising that financial transactions can include the use of notes, coins, credit and debit cards, and barter items; explaining the advantages and disadvantages of the different transaction types; and considering how these may influence the way people purchase items
  • exploring the strategies that can be used when making consumer and financial decisions, such as finding more information, comparing prices, keeping a record of money spent and saving for the future
  • exploring how a decision to buy an item at the local supermarket affects the family (for example, “Did the family have to put off buying another item to have this one?”) and the local community, such as providing jobs
  • considering if their actions affect the environment; for example, “Does choosing local products rather than imports affect the environment?”
General capabilities
  • Ethical understanding Ethical understanding
  • Numeracy Numeracy
ScOT terms

Opportunity costs,  Personal finance,  Consumer sovereignty

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