Economics and business / Year 10 / Economics and Business Skills / Economic reasoning, decision-making and application

Curriculum content descriptions

Generate a range of viable options in response to an economic or business issue or event, use cost-benefit analysis and appropriate criteria to recommend and justify a course of action and predict the potential consequences of the proposed action (ACHES058)

Elaborations
  • deciding on a potential major purchase (for example, a car, investigating options, calculating the costs of different purchasing methods and estimating the long-term costs and benefits of owning the asset and repaying the debt)
  • examining the trade-offs businesses may need to consider when determining methods to improve their productivity (for example, employing more staff compared with upskilling existing staff)
General capabilities
  • Literacy Literacy
  • Numeracy Numeracy
  • Critical and creative thinking Critical and creative thinking
  • Ethical understanding Ethical understanding
ScOT terms

Causality,  Financial analysis,  Risk management

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