Year 10 Economics and Business Achievement Standard
11 statements aligned to content descriptors and elaborations
Achievement standard (as ACARA publishes it)
Achievement standard
Click any sentence to jump to its statement and linked content descriptors.
By the end of Year 10, students analyse how economic indicators influence Australian Government decision-making. They explain ways that government intervenes to improve economic performance and living standards. They explain processes that businesses use to manage the workforce and improve productivity. They explain the importance of Australia’s superannuation system and its effect on consumer and financial decision-making. Students analyse factors that influence major consumer and financial decisions, and explain the short- and long-term effects of these decisions.
Students develop and modify a range of questions to investigate an economic and business issue. They locate, select and analyse relevant and reliable information and data from a range of sources. They interpret and analyse information and data to evaluate trends and economic cause-and-effect relationships and make predictions about consumer and financial impacts. They develop an evidence-based response to an economic and business issue. They evaluate a response, using appropriate criteria to decide on a course of action. Students use economic and business knowledge, concepts and terms to develop descriptions, explanations and reasoned arguments that synthesise research findings.
The 11 achievement standard statements
Open a statement to see the content descriptors ACARA links to it, then open a descriptor's elaborations.
By the end of Year 10, students analyse how economic indicators influence Australian Government decision-making.
Content descriptorAC9HE10K01 Knowledge and understanding
how and why the economic indicators influence economic decision-making
Elaborations (4)
- Elaboration identifying examples of economic indicators, such as economic growth rates, unemployment trends, inflation rates or sustainability indexes
- Elaboration analysing how the Australian Government may intervene in response to an emerging economic issue or to changes in economic indicators, such as to maintain or improve the standard of living or respond to a decline in gross domestic product
- Elaboration explaining economic objectives of the Australian Government (for example, economic growth, full employment and price stability) and how these have been framed in response to economic indicators (for example, gross domestic product, business sales or earnings, inflation)
- Elaboration identifying an example of an economic indicator, such as employment statistics, and explaining how it influences government economic decision-making; for example, by providing support for new apprenticeships and training places
They explain ways that government intervenes to improve economic performance and living standards.
Content descriptorAC9HE10K02 Knowledge and understanding
the ways that government intervenes in the economy to improve economic performance and living standards within Australian society
Elaborations (4)
- Elaboration explaining how the Australian Government uses fiscal policy to help improve the standard of living; for example, the federal Budget, taxation, expenditure on skills training and workforce development
- Elaboration explaining the forces that shape and affect variations in living standards within Australian society, such as unemployment and poverty, and identifying why the government may redistribute income and wealth
- Elaboration explaining how the government may redistribute income to achieve a more equal distribution of income and wealth; for example, income transfers such as pensions, youth allowance and job search, or the provision of services for all such as healthcare and education
- Elaboration investigating the role and function of the Reserve Bank of Australia within the Australian economy
They explain processes that businesses use to manage the workforce and improve productivity.
Content descriptorAC9HE10K03 Knowledge and understanding
factors that influence major consumer and financial decisions, and the short- and long-term consequences of these decisions
Elaborations (3)
- Elaboration identifying examples of minor and major consumer and financial decisions, and explaining the processes that guide decision-making
- Elaboration analysing factors that influence major consumer and financial decisions, such as price, availability and cost of finance, marketing of products, age and gender of consumer, convenience, and ethical and environmental considerations
- Elaboration identifying the costs of consumer and financial transactions over time, such as the ability to make loan repayments, available savings, depreciation, and maintenance costs and insurance, as well as the benefits such as independence and convenience when purchasing a car or home
They explain the importance of Australia’s superannuation system and its effect on consumer and financial decision-making.
Content descriptorAC9HE10K04 Knowledge and understanding
the importance of Australia’s superannuation system and how this system affects consumer and financial decision-making
Elaborations (3)
- Elaboration explaining the importance of Australia’s superannuation system in relation to human and financial wellbeing in retirement and the government’s ability to maintain a welfare payment system for the common good
- Elaboration identifying why individuals make decisions about superannuation investment options and how their circumstances, such as age, employment status, dependents and anticipated retirement age, affect these decisions
- Elaboration explaining how individuals manage a personal superannuation fund; for example, who contributes, taxation, consolidating superannuation funds, finding lost superannuation and tracking the performance of a superannuation account
Students analyse factors that influence major consumer and financial decisions, and explain the short- and long-term effects of these decisions.
Content descriptorAC9HE10K05 Knowledge and understanding
processes that businesses use to manage the workforce and improve productivity, including the role of entrepreneurs
Elaborations (5)
- Elaboration investigating the processes corporations, government and non-government organisations use to support start-up businesses, promote the success of business ventures or create relationships between businesses; for example, Indigenous Business Month Awards, First Nations Chambers of Commerce or the Registrar of Indigenous Corporations
- Elaboration investigating the processes used by First Nations Australian businesses and other organisations to improve workforce participation; for example, cross-cultural training programs, "Closing the gap" initiatives or corporate commitments to diversity and inclusion in employment
- Elaboration identifying and explaining strategies for improving workforce management; for example, horizontal or vertical organisational structures, transparency in decision-making, encouragement of workers to show initiative, paid parental leave, flexible work arrangements, employer responsibilities to workers and government
- Elaboration identifying and explaining strategies that improve productivity; for example, training or upskilling, capital investment, increasing research and development, investment in applications of technologies, use of just-in-time inventory systems or collection, and analysis of data to inform product development or service delivery
- Elaboration explaining how entrepreneurs lead responses to changes in global and domestic economic conditions and use technologies to drive innovation; for example, influencing approaches to waste management or sustainable use of energy
Students develop and modify a range of questions to investigate an economic and business issue.
Content descriptorAC9HE10S01 Skills
develop and modify questions to investigate a contemporary economic and business issue
Elaborations (2)
- Elaboration developing a range of questions to investigate a complex issue (for example, “Why does the government intervene in the economy to improve living standards?”) or formulating a hypothesis such as “Responding to an upswing in the economy with expansionary measures will improve business productivity”
- Elaboration developing and modifying a range of questions to improve the focus of an investigation; for example, modifying “What factors influence decision-making within consumer and financial contexts?” to “What factors influence choosing a mobile phone plan?”
They locate, select and analyse relevant and reliable information and data from a range of sources.
Content descriptorAC9HE10S02 Skills
locate, select and analyse information and data from a range of sources
Elaborations (5)
- Elaboration locating online sources using contextually specific terms (for example, “global markets”) or criteria (for example, using specific key words to find “case studies related to trade agreements”)
- Elaboration selecting and analysing economic information and data for relevance by asking questions such as “How will information and data help answer the inquiry question?”
- Elaboration selecting and analysing economic information and data for reliability by asking questions such as “How and when was the data collected?”, “Who collected the data?” and “For what purpose was the data collected?”
- Elaboration explaining assumptions or missing information in sources that may affect the reliability of an opinion about an economic or business issue
- Elaboration selecting and representing information and data about an economic or business issue, using specialised digital tools and processes to support interpretation and analysis; for example, a graphic organiser connecting objectives of the Australian economy with examples of government intervention in the economy
They interpret and analyse information and data to evaluate trends and economic cause-and-effect relationships and make predictions about consumer and financial impacts.
Content descriptorAC9HE10S03 Skills
interpret information and data, explaining economic and business issues, trends and economic cause-and-effect relationships, and make predictions about consumer and financial impacts
Elaborations (4)
- Elaboration interpreting information to explain the nature, extent and importance of the economic and business issue; for example, the relationship between standards of living, infant mortality and access to health services
- Elaboration interpreting multi-variable data to analyse trends in government expenditure over time; for example, the trend in the provision of health and education programs over time, and explaining reasons for the change
- Elaboration analysing the causes and effects of an economic issue on individuals or businesses; for example, the reasons for and implications of government intervention in the economy to improve living standards
- Elaboration analysing trends to make predictions about who will be affected and how; for example, trends in productivity and implications for businesses
They develop an evidence-based response to an economic and business issue.
Content descriptorAC9HE10S04 Skills
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 (4)
- Elaboration evaluating 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
- Elaboration evaluating 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
- Elaboration evaluating 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
- Elaboration examining 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
They evaluate a response, using appropriate criteria to decide on a course of action.
Content descriptorAC9HE10S04 Skills
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 (4)
- Elaboration evaluating 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
- Elaboration evaluating 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
- Elaboration evaluating 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
- Elaboration examining 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
Students use economic and business knowledge, concepts and terms to develop descriptions, explanations and reasoned arguments that synthesise research findings.
Content descriptorAC9HE10S05 Skills
create descriptions, explanations and arguments, using economic and business knowledge, concepts and terms that incorporate and acknowledge and research findings
Elaborations (3)
- Elaboration presenting a description or explanation that orients the audience; for example, peers or representatives of businesses, to the issue, using relevant economic and business concepts and terms such as “economic indicators”, “government intervention”, “fiscal policy”, “standard of living”, “economic performance”, “federal Budget”, “productivity”, “organisational structures”, “workforce management”, “superannuation”, “interdependence”, “trade”, “comparative advantage”, “globalisation”, “supply chain” and “insurance”
- Elaboration explaining decisions and conclusions about a business issue, supported by reasons and representations of data in a range of formats; for example, financial statements or information sheet and research in appropriate formats, such as reports and webpages
- Elaboration presenting an argument for a proposal for action in response to an economic or business issue, applying tone appropriate to purpose; for example, using an authoritative tone when presenting an argument and making predictions about impacts, and audience; for example, a business manager or entrepreneur
This achievement standard describes the expected learning for Year 10 Economics and Business. Use it to plan teaching and assessment with the Australian Curriculum v9.
At a Glance
| Strand | Substrand | CDs | Elaborations |
|---|---|---|---|
| Knowledge and understanding | Economics and Business | 5 | 19 |
| Skills | Questioning and researching | 2 | 7 |
| Skills | Interpreting and analysing | 1 | 4 |
| Skills | Evaluating, concluding and decision-making | 1 | 4 |
| Skills | Communicating | 1 | 3 |
| Total | 10 | 37 | |