AC9HE9S04 Year 9 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 applying strategies to mitigate risk in consumer and financial decision-making; for example, estimating monthly and annual costs of each option and considering ability to pay
• • Elaboration examining why businesses may have to consider opportunity cost when deciding on a course of action; for example, an Australian bank may prioritise support for an existing business operating in local and global markets instead of supporting a new or emerging business
• • Elaboration developing processes that consider the results of a cost-benefit analysis; for example, processes used by businesses to remain competitive in the global market
• • Elaboration selecting and justifying a preferred response using criteria such as consideration of consumer and financial risk