Content description VCEBR001

Economics and Business / Levels 5 and 6 / Resource Allocation and Making Choices

Content description

Describe the difference between needs and wants and explain why choices need to be made

Elaborations

listing all the items individuals would like to have and categorising these items as a need or a want
explaining why individuals cannot have all the items they want and therefore must make a choice (scarcity)
discussing whether one person’s need is another person’s need or want

Code

VCEBR001

Curriculum resources and support

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