Year 7 Economics and Business Achievement Standard – Australian Curriculum v9
This Achievement Standard describes what students are expected to know and do in Year 7 Humanities and Social Sciences by the end of the year. Teachers can use it to guide assessment design, collect evidence of learning, and ensure planning stays aligned with the Australian Curriculum v9.
What Students Should Know
By the end of Year 7, students describe how decisions are made to allocate limited resources to individuals and communities in an economy. They describe the reasons businesses exist and types of businesses, and identify how entrepreneurial characteristics contribute to the success of a business. They describe the reasons individuals choose to work, how they may derive an income and the types of work that exist. Students identify the rights and responsibilities of individuals and businesses in terms of products and services.
Students develop questions to investigate an economic and business issue. They locate, select and organise data and information from sources. They interpret information and data to identify economic and business issues, trends or effects. They develop a response and identify potential costs and benefits. Students use economic and business knowledge, concepts, terms and sources to create descriptions and explanations.
Content Descriptors by Strand
This standard is supported by 10 Content Descriptors:
Knowledge and understanding
Economics and Business
AC9HE7K01 why opportunity cost exists as decisions are made to allocate limited resources to meet unlimited needs and wants AC9HE7K02 the reasons businesses exist and how different types of businesses provide goods and services AC9HE7K03 characteristics of entrepreneurs and how these influence the success of a business AC9HE7K04 the reasons individuals work, the types of work they are involved in, and how they may derive an income AC9HE7K05 the rights and responsibilities of individuals and businesses in relation to consumer and financial products and servicesSkills
Questioning and researching
AC9HE7S01 develop questions to investigate a contemporary economic and business issue AC9HE7S02 locate, select and organise information and data from a range of sourcesInterpreting and analysing
AC9HE7S03 interpret information and data to identify economic and business issues, trends and economic cause-and-effect relationshipsEvaluating, concluding and decision-making
AC9HE7S04 develop a response to an economic and business issue, identifying potential costs and benefitsCommunicating
AC9HE7S05 create descriptions and explanations, using economic and business knowledge, concepts and terms, and referencing information and data from sourcesAt a Glance
| Strand | Substrand | CDs | Elaborations |
|---|---|---|---|
| Knowledge and understanding | Economics and Business | 5 | 21 |
| Skills | Questioning and researching | 2 | 6 |
| Skills | Interpreting and analysing | 1 | 3 |
| Skills | Evaluating, concluding and decision-making | 1 | 4 |
| Skills | Communicating | 1 | 2 |
| Total | 10 | 36 | |