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Related topic
Economics and business / Year 9 / 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 (ACHES046)
Elaborations
- identifying and comparing possible alternatives to address a problem such as how to manage over-indebtedness
- evaluating the costs and benefits of a range of alternatives such as strategies for a business seeking to remain competitive in the global market
- using a range of criteria (social, economic, environmental) to select and justify a preferred option
General capabilities
ScOT terms
Causality, Financial analysis, Risk management