Food and fibre: Economics and Business

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Economics and Business

The Australian Curriculum addresses learning about food and fibre predominantly in Design and Technologies and F-6/7HASS/Geography, however there are opportunities to make connections with aspects of Economics and Business in some years.

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Year 7

Knowledge and understanding

Content descriptions with elaborations:

The ways consumers and producers interact and respond to each other in the market (ACHEK017)

  • investigating how consumers rely on businesses to meet their needs and wants
  • examining how businesses respond to the demands of consumers (for example preference for healthy options, environmentally friendly packaging or organic food
  • exploring why businesses might set a certain price for a product (for example, because that’s what they think consumers will pay) and how they might adjust the price according to demand)

Characteristics of entrepreneurs and successful businesses (ACHEK019)

  • observing local businesses to identify factors that contribute to their success (for example location, quality of service, a high-quality product, sound management practices)

Year 8

Knowledge and understanding

Content descriptions with elaborations:

The ways markets in Australia operate to enable distribution of resources and why they may be influenced by government (ACHEK027)

  • explaining how the interaction between buyers and sellers influences prices and how markets enable the distribution and allocation of resources (that is, how do businesses answer the questions of what to produce, how to produce and for whom to produce?)

Types of businesses and the ways that businesses respond to opportunities in Australia (ACHEK030)

  • comparing different forms of business ownership (for example, sole proprietorship, partnership, corporation, cooperative, franchise)
  • identifying examples of the different ways businesses respond to opportunities in the market (for example developing a new product to satisfy demand, changing the way they deliver their products or services to consumers)

Influences on the ways people work and factors that might affect work in the future (ACHEK031)

  • investigating present influences on the ways people work, such as technological change, outsourced labour in the global economy, rapid communication changes, casualisation of the workforce