AC9HE8S04 Year 8 Humanities and Social Sciences

Content descriptor develop a response to an economic and business issue, identifying potential costs and benefits

Elaborations

• • Elaboration developing a response to an issue by combining known knowledge with new ideas; for example, using a personal budget and savings plan to decide whether to purchase a good or service
• • Elaboration identifying and describing reasons informing a recommendation; for example, the reasons the government collects taxation revenue and provides services to individuals and communities
• • Elaboration identifying the potential costs and benefits of a decision; for example, doing casual work involves identifying benefits such as money earned, and costs such as less certainty about work hours each week
• • Elaboration explaining that making an economic and business decision involves choice and foregoing an alternative want; for example, the goods and/or services they must forgo or give up in order to satisfy a particular want