AC9HE9S04
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
- AC9HE9S04_E1applying strategies to mitigate risk in consumer and financial decision-making; for example, estimating monthly and annual costs of each option and considering ability to pay
- AC9HE9S04_E2examining why businesses may have to consider opportunity cost when deciding on a course of action; for example, an Australian bank may prioritise support for an existing business operating in local and global markets instead of supporting a new or emerging business
- AC9HE9S04_E3developing processes that consider the results of a cost-benefit analysis; for example, processes used by businesses to remain competitive in the global market
- AC9HE9S04_E4selecting and justifying a preferred response using criteria such as consideration of consumer and financial risk
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