Economics and business / Year 8 / Economics and Business Knowledge and Understanding

Curriculum content descriptions

Types of businesses and the ways that businesses respond to opportunities in Australia (ACHEK030)

Elaborations
  • comparing different forms of business ownership (for example, sole proprietorship, partnership, corporation, cooperative, franchise)
  • explaining why a person or group of people would choose to establish one type of business rather than another
  • exploring different external factors that influence business opportunities, such as government and government policy, competitors in the market, demographics, technological innovations in production processes and product design, economic conditions, globalisation, and changing social attitudes and trends of the target market
  • identifying examples of the different ways businesses respond to opportunities in the market (for example, developing a new product to satisfy demand, changing the way they deliver their products or services to consumers)
  • exploring different internal factors that influence business opportunities, such as the product, location, resources, management and business culture including ability to be adaptable and demonstrate enterprising behaviours and skills
General capabilities
  • Critical and creative thinking Critical and creative thinking
  • Ethical understanding Ethical understanding
ScOT terms

Companies,  Ownership,  Marketing

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