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• VCEBW007

  Explore the nature and meaning of work and why individuals choose to participate in work

  Elaborations

  • exploring types of work, for example, full-time, part-time, casual, paid, unpaid, volunteer
  • investigating the reasons people work, for example, by conducting a class survey of parents’ and/or friends’ reasons for working

  VCEBW007 | The Humanities | Economics and Business | Levels 5 and 6 | Work and Work Futures

• Economics and Business: Levels 7 and 8 description

  In Levels 7 and 8, students consider what it means to be a consumer, a worker and a producer in the market and the relationships between, and interdependence of, these groups. The ways markets work within Australia to set prices, the participants in the market system and the ways these participants...

  Level description | The Humanities | Economics and Business

• Economics and Business: Levels 5 and 6 description

  In Levels 5 and 6, students explore the importance of economic and financial decision-making in everyday life. They consider the concept of opportunity cost and examine why decisions about the ways resources are allocated to meet needs and wants in their community involve trade-offs.

  Students examine...

  Level description | The Humanities | Economics and Business

• The Humanities | Economics and Business: Learning in Economics and Business

  Foundation to Level 4 – Laying the foundations

  While there is no formal economics and business curriculum prior to Level 5, students may have developed relevant knowledge and capabilities through other curriculum areas and interactions in everyday life.

  Students may develop a basic understanding...

  Overview material | Economics and Business

• VCEBR022

  Explain the links between economic performance and living standards, including the variations that exist within and between economies, and give reasons for the possible causes of variations

  Elaborations

  • comparing Australia’s resource base with another economy and exploring how this may influence trading relationships, for example, why does a particular economy manufacture electronic goods, while another focuses on mining?
  • locating a range of products in the local shopping centre that were produced overseas, and proposing reasons why they were not produced in Australia
  • mapping the global supply chain for a product to identify the participants in the chain
  • defining ‘living standards’, discussing why it is considered the ultimate goal for economic activity and explaining its relationship to economic performance
  • investigating economic performance and living standards and discussing how they can mean different things to different people and countries
  • investigating the ways living standards can be measured, for example, gross domestic product (GDP), Human Development Index (HDI) or total quality of life index
  • identifying policy options designed to improve living standards, such as education, training and workforce development, taxation, migration, government spending on health and infrastructure, environmental policies

  VCEBR022 | The Humanities | Economics and Business | Levels 9 and 10 | Resource Allocation and Making Choices