AC9HE7K01 Year 7 Humanities and Social Sciences

This Content Descriptor from Year 7 Humanities and Social Sciences provides the specific knowledge and skills students should learn. Use it to plan lessons, create learning sequences, and design assessments that align with the Australian Curriculum v9.

why opportunity cost exists as decisions are made to allocate limited resources to meet unlimited needs and wants

Elaborations

• 1 explaining the concept of “economic scarcity” in relation to “What to produce?”, “How to produce?” or “For whom to produce?”
• 2 identifying the needs and wants of a local community, and exploring how limited resources are currently used to meet unlimited needs and wants
• 3 explaining how economic resources might be used more sustainably to meet needs and wants into the future
• 4 investigating how First Nations communities use exchange systems (barter) or networks (partnerships) to decide about the use of limited resources in sustainable ways
• 5 explaining the concept of “opportunity cost” in relation to a choice; for example, if a student chooses to spend their time (resource) riding their bike after school, they cannot go for a swim (trade-off)

Related Achievement Standards