Economics and business / Year 7 / Economics and Business Knowledge and Understanding

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Curriculum content descriptions

The ways consumers and producers interact and respond to each other in the market  (ACHEK017)

Elaborations
  • investigating how consumers rely on businesses to meet their needs and wants
  • examining how businesses respond to the demands of consumers (for example, preference for healthy options, environmentally friendly packaging or organic food)
  • exploring why businesses might set a certain price for a product (for example, because that’s what they think consumers will pay) and how they might adjust the price according to demand
  • considering how consumers might influence producers in other countries, such as those in the Asia region, to provide goods and services
  • investigating the role and interactions of consumers and producers in the market (for example, using a simple circular flow of income model, demand, supply, price mechanism)
General capabilities
  • Critical and creative thinking Critical and creative thinking
  • Personal and social capability Personal and social capability
  • Ethical understanding Ethical understanding
ScOT terms

Supply and demand,  Pricing

Video

Rugby Farms – Horticulture and changes in farming practice

This is a video about farmer and business man Matt Hood and how he, his father and brother operate Rugby Farm, a vegetable production agribusiness. It shows scenes of the business past and present as he tells of the many generations who have worked the farm, the 12,000 acres of vegetables grown each year, and the exciting ...

Video

Finding farms: producer video

This is a video about how lobsters are harvested and processed in South Australia for live export to China. In the first part of the video, Mark Denton, a professional rock lobster fisherman describes how the sustainability of the lobster fishery is ensured; compares and contrasts his work with farming any other form of ...

Video

Gilmore Braes Heritage Beef: creating a 'niche market' farming ancient breeds of cattle

This is a video about how Batlow farmers Ian and Mandy McCorkindale produce and market meat from Scottish Highland and Welsh Black cattle. It shows scenes of the cattle on the farm and meat being prepared in the butchery as Ian McCorkindale describes the process, value and rewards of marketing their beef directly to the ...

Video

Get Shucked Oysters

This is a short clip about a Tasmanian oyster farmer producing and serving farm-fresh oysters on site on Bruny Island. In this clip, oyster farmer and business owner, Joe Bennett, describes how he established his business from very small beginnings and has grown it to satisfy consumer demand. Watch to find out how this ...

Video

Carey Bros Queensland

This is a video about the operation of the Carey Brothers meat production business. Introduced by Greg Carey, the video shows beef cattle at the company's abattoir as he lists the numbers of cattle, lambs and pigs processed in a typical week and the numbers of staff employed at the plant. He praises the resilience of the ...

Online

Growing Exotic Fruit - a niche farming enterprise

This unit of work uses the operation of an small agribusiness to explore what it means to be a producer in a small scale business. The unit focuses on the operation of a real-life, exotic fruit farm in northern New South Wales from which fruits are sold to local markets. The units provides five inquiry-based activities ...

Online

The Farm Game

This is a resource about the relationship between consumers and producers in the market. It is presented as a teacher guide and includes learning outcomes, a description, setting the scene information and a work task. The work task involves an investigation of different types of farmers and primary producers and a whole ...

Video

Bees and Berries a great combination

This is a video about part-time farmer Jeff Kynaston and how he produces and sells berry and honey products. It shows scenes of his work as he tells of his satisfaction in growing boysenberries, raspberries and blackberries; picking the berries only when they are fully ripe; selling them within two days of harvest at farmers' ...