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Content description VCEBR011

Economics and Business / Levels 7 and 8 / Resource Allocation and Making Choices
Content description
Examine the ways consumers and producers respond to and influence each other in the market, particularly through price mechanism
  1. investigating how consumers rely on businesses to meet their needs and wants
  2. identifying and creating a list of who is involved in the market system in Australia
  3. explaining the influence of buyers and sellers on prices and how markets enable the distribution and allocation of resources, including examining how businesses answer questions of what to produce, how to produce and for whom to produce
  4. examining how businesses respond to the demands of consumers, such as preferences for healthy options, environmentally friendly packaging or organic food
  5. considering how consumers might influence producers in other countries to provide goods and services, such as those in the Asia region
  6. describing how goods and services are produced
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