AC9HE8K05 Year 8 Humanities and Social Sciences

AC9HE8K05 – Year 8 Humanities and Social Sciences: Economics and Business

Strand

Knowledge and understanding

Substrand

Economics and Business

This Content Descriptor from Year 8 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.

Content Descriptor

processes that individuals and/or businesses use to plan and budget to achieve short-term and long-term financial objectives

Elaborations

• identifying ways short- and long-term personal financial objectives can be achieved; for example, through developing a budget and having a savings plan
• explaining how financial records, such as income statements, balance sheets, budgets and cash flow statements, inform business decision-making
• identifying and explaining business processes that are used to manage finances and plan in the short- and long-term; for example, devising a business plan, borrowing from a financial institution, building savings by earning interest

Achievement Standard This Supports

This Content Descriptor contributes to the following Achievement Standard:

Year 8 ASHASECOY8

Year 8 Humanities and Social Sciences Achievement Standard

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.