Describe the difference between needs and wants and explain why choices need to be made
Explore the concept of opportunity cost and explain how it involves choices about the alternative use of limited resources and the need to consider trade-offs
Identify types of resources (natural, human, capital) and explore the ways societies use them in order to satisfy the needs and wants of present and future generations
Identify influences on consumer choices and explore strategies that can be used to help make informed personal consumer and financial choices
Consider the effect that consumer and financial decisions of individuals may have on themselves, their family, the broader community and the natural, economic and business environment
Identify the reasons businesses exist and investigate the different ways they produce and distribute goods and services
Explore the nature and meaning of work and why individuals choose to participate in work
Investigate the influences on the ways people work and explore factors affecting work now and into the future
Investigate the nature and explain the importance of enterprising behaviours and capabilities
Make decisions, identify appropriate actions by considering the advantages and disadvantages, and form conclusions concerning an economics or business issue or event
