Economics and business / Year 8 / Economics and Business Skills / Economic reasoning, decision-making and application

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Curriculum content descriptions

Generate a range of alternatives in response to an observed economic or business issue or event, and evaluate the potential costs and benefits of each alternative (ACHES035)

Elaborations
  • identifying opportunities in the market for a business and proposing alternative ways to take advantage of these
  • undertaking a cost-benefit analysis of alternative ways for a business to respond to opportunities in the market and making a decision about which one to recommend
  • exploring an Aboriginal or Torres Strait Islander business or enterprise, analysing how it has responded to an issue or opportunity, and applying a cost-benefit analysis
General capabilities
  • Literacy Literacy
  • Numeracy Numeracy
  • Critical and creative thinking Critical and creative thinking
  • Ethical understanding Ethical understanding
ScOT terms

Cost-benefit analysis

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3 direct matches to ACHES035 | 1 other related resources

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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Online

Developing and Designing New Product Lines and Marketing Strategies

  • TLF-IDM019324

This is a unit of work about developing new market lines and strategies to sell a new or revamped product. It includes researching existing markets, target markets and other influences that affect the marketing of a new product. The resource has a teacher guide and a presentation that provides background information and ...

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Text

Module 2: Spending and Saving Money

  • TLF-IDA005033

These two activities develop students’ financial decision-making skills with an emphasis on aligning their purchases to their values and using a payment method suitable to them.

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Online

Australia's Trade through Time

  • TLF-IDM025126

Using an interactive timeline created by the Department of Foreign Affairs and Trade, this Teacher guide provides 12 series of learning experiences that engage students in the analysis and interpretation of data about Australian trade from 1900 to the present day. Students study videos, tables, images and texts in order ...

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