AC9HE7S04
Evaluating, concluding and decision-making
develop a response to an economic and business issue, identifying potential costs and benefits
Elaborations
- AC9HE7S04_E1developing a response to an issue by combining known knowledge with new ideas; for example, when purchasing a mobile phone, use the product statement and personal budget to identify benefits and costs
- AC9HE7S04_E2identifying and describing reasons that inform the response to an issue; for example, the reasons for using recyclable materials in packaging as a way to support sustainable use of economic resources to meet needs and wants into the future
- AC9HE7S04_E3identifying the potential costs and benefits of a decision; for example, deciding whether to work part-time involves identifying benefits such as earning money and recognising costs such as time on the weekend devoted to travelling to and from work
- AC9HE7S04_E4explaining how making an economic and business decision involves selecting one alternative over another; for example, to satisfy a particular want, a selection of goods or services is preferred or purchased over another
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