AC9HE10S04 Year 10 Humanities and Social Sciences

Content descriptor 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

• • 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