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• VCEBB015

  Explore and observe the characteristics of entrepreneurs and successful businesses

  Elaborations

  • investigating well-known entrepreneurs and identifying the behaviours and skills that they bring to their business, for example, establishing a shared vision, demonstrating initiative, innovation and enterprise
  • observing local businesses to identify factors that contribute to their success, for example, location, quality of service, a high-quality product, sound management practices

  VCEBB015 | The Humanities | Economics and Business | Levels 7 and 8 | The Business Environment

• Economics and Business: Levels 7 and 8 achievement standards

  By the end of Level 8, students describe the interdependence of consumers and producers in the market and explain how markets operate to set prices and why governments may influence the market’s operation. They explain the rights and responsibilities of consumers and businesses when making...

  Level description | The Humanities | Economics and Business | Levels 7 and 8

• VCEBR011

  Examine the ways consumers and producers respond to and influence each other in the market, particularly through price mechanism

  Elaborations

  • investigating how consumers rely on businesses to meet their needs and wants
  • identifying and creating a list of who is involved in the market system in Australia
  • 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
  • examining how businesses respond to the demands of consumers, such as preferences for healthy options, environmentally friendly packaging or organic food
  • considering how consumers might influence producers in other countries to provide goods and services, such as those in the Asia region
  • describing how goods and services are produced

  VCEBR011 | The Humanities | Economics and Business | Levels 7 and 8 | Resource Allocation and Making Choices