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

Version 8
Switch to version 9
View on Australian Curriculum website Australian Curriculum, Assessment and Reporting Authority
Curriculum content descriptions

Why and how individuals and businesses plan to achieve short-term and long-term personal, organisational and financial objectives (ACHEK018)

Elaborations
  • identifying ways short- and long-term personal financial objectives can be achieved, for example through developing a budget and having a savings plan
  • explaining the need for setting short- and long-term personal financial objectives and prioritising personal financial responsibilities and needs over wants
  • explaining how financial records such as income statements, balance sheets, budgets and cash flow statements inform business decision-making
  • exploring ways that businesses manage finances and plan in the short- and long-term to achieve organisational and financial objectives (for example, by developing a business plan or borrowing to invest in the business)
General capabilities
  • Numeracy Numeracy
  • Critical and creative thinking Critical and creative thinking
  • Personal and social capability Personal and social capability
ScOT terms

Personal finance,  Financial records,  Financial analysis,  Planning,  Financial reports

Refine by resource type

    Refine by year level


      Refine by learning area


      Refine by topic

      Related topic
      • No suggestions

      1 direct match to ACHEK018 | 19 other related resources
      Showing the top 20 search results

      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.  

      View detailsView resource
      Video

      My Five Cents: Why borrowing can cost you more

      • TLF-IDM025250

      Think credit cards are basically free money? Gen Fricker will make you think again. Learn how interest rates and fees affect the money you borrow, and why they may be more expensive in the long run. Oh dear! Then test yourself with ASIC MoneySmart's "Things to think about" classroom exercises.  

      View detailsView resource
      Video

      Sciencey: Five things you should know about renewable energy

      • TLF-IDM025359

      Check out how we make electricity, the different renewable energy sources we have developed and how batteries work. Then, find out about hydro-electricity and why Australia could one day be the world’s biggest exporter of renewable energy. Lastly, discover virtual power plants. Why is it important to focus on renewable ...

      View detailsView resource
      Online

      Trade and Investment at a Glance

      • TLF-IDM025125

      Using an illustrated report from the Department of Foreign Affairs and Trade, this Teacher guide provides ten learning sequences that engage students in the analysis and interpretation of data about Australian imports and exports. Students: identify Australia's major exports and imports; investigate international trade ...

      View detailsView resource
      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 ...

      View detailsView resource
      Interactive

      Fish market

      • TLF-IDL768

      Buy and sell fish in trading markets in a range of Australian and New Zealand cities. Compare market prices, supply and demand. Get to know other traders to find the best deals and discover new markets. Find a rare fish. Maximise your profit and reputation as a smart trader. This learning object is the last in a series ...

      View detailsView resource
      Video

      How does income tax work?

      • TLF-IDM025251

      Gen Fricker makes income tax interesting! Learn about income tax - what it is, how it works and when you have to pay it. Easy-peasy! Then test yourself with ASIC Moneysmart's "Things to think about" classroom exercises.

      View detailsView resource
      Video

      My Five Cents: Why investing can be risky

      • TLF-IDM025254

      Planning to get rich quick by investing one day? Before you jump in, let Gen Fricker explain some of the risks involved with different types of investments. Then test yourself with ASIC MoneySmart's "Things to think about" classroom exercises.  

      View detailsView resource
      Video

      Waratah Australis Nursery (flowers) – Batlow, New South Wales

      • TLF-IDM019382

      This is a video about plant breeder and nursery owner Brian Fitzpatrick and his work of breeding waratahs. It shows scenes of his activities in the Waratah Australis Nursery as he speaks of the magnificence of waratahs; the stages in the breeding process including hand-pollination and the production of 12,000 seedlings ...

      View detailsView resource
      Video

      Weston Farm - organic farm (Tasmania)

      • TLF-IDM019328

      This is a video about horticulturalist and farmer Richard Weston and his success in growing high quality organic food and flowers. It shows scenes of Weston Farm as he speaks of his commitment to quality niche products, the importance of diversification in small-scale farming, and the value of overseas research. He goes ...

      View detailsView resource
      Video

      Investigating Australian approaches to producing fish, seafood and meat: producer video

      • TLF-IDM019361

      This is a video about the Robarra barramundi aquaculture operations at West Beach and Robe in South Australia. Presented by Lance Vater, Managing Director of the Vater Corporation that includes Robarra, it shows the stages of production from an egg to a 100mm fingerling at West Beach; the feeding and grading of fish in ...

      View detailsView resource
      Video

      Investigating key Australian approaches to producing cotton, timber and wool: producer video

      • TLF-IDM019386

      This is a video about short wool sheep breeds and how their wool is used at the MiniJumbuck factory at Narracorte South Australia to make quilts, underlays and pillows. Sheep are seen on farms as merino sheep producer Thyne McGregor and Southdown breeder Dee Nolan discuss the strengths of each type of wool and how each ...

      View detailsView resource
      Video

      Bruny Island Providore

      • TLF-IDM019593

      This is a short clip in which the business owner of a Tasmanian fudge company describes the establishment and development of his confectionery business. Business owner, Michael, explains the production model behind his successful enterprise including the business location, the local sourcing of raw materials, and a world’s-first ...

      View detailsView resource
      Video

      CERES Environment Park

      • TLF-IDM019857

      This is a video about the sustainable not-for-profit agribusiness operated by the Centre for Education and Research in Environmental Strategies (CERES) in inner Melbourne. CERES Environment Park runs an organic farm, fruit and vegetable delivery business, and delivers educational programs to schools. Presented by the ...

      View detailsView resource
      Video

      Producing cattle and sheep...and beef and lamb: producer video

      • TLF-IDM019385

      This is a video about the operation of a Southdown sheep stud and olive plantation at Gum Park farm in South Australia. Introduced by farmer Dee Nolan, it shows the sheep in the olive groves, the lambing paddocks and birthing shed as she describes the farm's certified organic approach that starts from the soil up and uses ...

      View detailsView resource
      Video

      Grandvewe - Cheese Farm - cheese also comes from sheep!! Tasmania

      • TLF-IDM019329

      This is a video about farmer and cheesemaker Diane Rae and how she and her children established a sheep dairy agribusiness. It shows scenes of Grandvewe farm and cheesery as she speaks of how they learnt to be sheep farmers; researched dairy sheep overseas; and changed production systems as a result of experience. She tells ...

      View detailsView resource
      Video

      Exploring farms that produce our meat and wool:producer video

      • TLF-IDM019348

      This is a video about Mayura Station in South Australia and the full-blood Wagyu beef it produces. It is introduced by owner Scott deBruin who explains the origin of Wagyu cattle in Japan; points to the characteristic marbling of its meat preferred by Asian customers; and outlines the importance of high energy grain feed ...

      View detailsView resource
      Video

      Carey Bros Queensland

      • TLF-IDM019858

      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 ...

      View detailsView resource
      Video

      Biomes that produce our food, industrial materials and fibre: producer video

      • TLF-IDM019393

      This is a video about the mixed farming operations of Boonderoo Pastoral Company in South Australia. The farm is introduced by owner Lachie Seears who describes its size, family history and how region's Mediterranean climate allows him to diversify across a range of valuable commodities including Angus cattle, cross-breed ...

      View detailsView resource
      Video

      Exploring the production and marketing of seafood: producer video

      • TLF-IDM019437

      This is a video about how wild-caught lobsters are processed for export and barramundi are farmed in two South Australian businesses. The first part is presented by Andrew Laurie, the owner of Sky Seafoods, who shows the work of the lobster fishermen who supply him and how the lobsters are processed. He describes how sustainability ...

      View detailsView resource