Year 8 Economics and Business Achievement Standard – Australian Curriculum v9
This Achievement Standard describes what students are expected to know and do in Year 8 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 8, students explain how markets influence the allocation of resources to the production of goods and services. They explain ways that businesses adapt to opportunities in markets and respond to the work environment. They describe the importance of Australia’s taxation system and its effect on decision-making by individuals and businesses. Students explain why individuals and/or businesses budget and plan.
Students develop a range of questions to investigate an economic and business issue. They locate, select and organise relevant information and data. They interpret information and data to identify economic and business issues and trends, and describe economic cause-and-effect relationships. They develop a response to an economic and business issue. They identify and evaluate potential costs and benefits. Students use economics and business knowledge, concepts, terms and research findings to create descriptions and explanations.
Content Descriptors by Strand
This standard is supported by 10 Content Descriptors:
Knowledge and understanding
Economics and Business
AC9HE8K01 how markets influence decisions about the allocation of resources to the production of goods and services, and the effect of prices on these decisions AC9HE8K02 different ways that businesses adapt to opportunities in the market and respond to the changing nature of work AC9HE8K03 how First Nations Australian businesses and entrepreneurs develop opportunities in the market AC9HE8K04 the importance of Australia’s system of taxation and how this system affects decision-making by individuals and businesses AC9HE8K05 processes that individuals and/or businesses use to plan and budget to achieve short-term and long-term financial objectivesSkills
Questioning and researching
AC9HE8S01 develop questions to investigate a contemporary economic and business issue AC9HE8S02 locate, select and organise information and data from a range of sourcesInterpreting and analysing
AC9HE8S03 interpret information and data to identify economic and business issues, trends and economic cause-and-effect relationshipsEvaluating, concluding and decision-making
AC9HE8S04 develop a response to an economic and business issue, identifying potential costs and benefitsCommunicating
AC9HE8S05 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 | 19 |
| Skills | Questioning and researching | 2 | 5 |
| Skills | Interpreting and analysing | 1 | 3 |
| Skills | Evaluating, concluding and decision-making | 1 | 4 |
| Skills | Communicating | 1 | 2 |
| Total | 10 | 33 | |