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Content description VCEBC023

Economics and Business / Levels 9 and 10 / Consumer and Financial Literacy
Content description
Explain why and describe how people manage financial risks and rewards in the current Australian and global financial landscape
Elaborations
  1. identifying financial risks such as scams and identity theft and considering strategies to avoid these
  2. explaining the role of banks and other deposit-taking institutions, such as credit unions or building societies, in collecting deposits, pooling savings and lending them to individuals and business
  3. debating the difference between good and bad debt, how to manage debt, the risks of over-indebtedness, and the importance of having a savings buffer
  4. identifying ways consumers can protect themselves from risks, for example, through insurances, savings and superannuation
Code
VCEBC023
Curriculum resources and support
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