AC9HE10S04

Evaluating, concluding and decision-making

develop and evaluate a response to an economic and business issue, using cost-benefit analysis or criteria to decide on a course of action

Elaborations

AC9HE10S04_E1evaluating the short- and long-term financial implications of a decision; for example, calculating the costs of different purchasing methods and considering ability to opt out if circumstances change
AC9HE10S04_E2evaluating a response, using a cost-benefit analysis to explain the reasons for a course of action; for example, comparing different types of loans to estimate the short- and long-term financial costs and benefits of each
AC9HE10S04_E3evaluating a response, using criteria such as efficiency, profitability or equity to explain the reasons for a course of action; for example, use of indicators of economic performance to identify variations within the Australian economy
AC9HE10S04_E4examining the opportunity cost consumers and businesses may have to consider when deciding on a course of action; for example, employing more staff instead of upskilling existing staff to improve productivity