Skip to navigation Skip to main content

WS02 - Informing the working holidaymaker

Humanities and Social Sciences, Economics and Business, Year 8

By the end of Year 8, students explain how markets influence the allocation of resources to the production of goods and services. They explain ways that businesses adapt to opportunities in markets and respond to the work environment. They describe the importance of Australia’s taxation system and its effect on decision-making by individuals and businesses. Students explain why individuals and/or businesses budget and plan.

 

Students develop a range of questions to investigate an economic and business issue. They locate, select and organise relevant information and data. They interpret information and data to identify economic and business issues and trends, and describe economic cause-and-effect relationships. They develop a response to an economic and business issue. They identify and evaluate potential costs and benefits. Students use economic and business knowledge, concepts, terms and research findings to create descriptions and explanations.

Knowledge and understanding

AC9HE8K02

different ways that businesses adapt to opportunities in the market and respond to the changing nature of work

Knowledge and understanding

AC9HE8K04

the importance of Australia’s system of taxation and how this system affects decision-making by individuals and businesses

Knowledge and understanding

AC9HE8K05

processes that individuals and/or businesses use to plan and budget to achieve short-term and long-term financial objectives

Skills | Interpreting and analysing

AC9HE8S03

interpret information and data to identify economic and business issues, trends and economic cause-and-effect relationships

Skills | Evaluating, concluding and decision-making

AC9HE8S04

develop a response to an economic and business issue, identifying potential costs and benefits

Skills | Communicating

AC9HE8S05

create descriptions and explanations, using economic and business knowledge, concepts and terms, and referencing information and data from sources

Annotations

 

1. Interprets information and data related to questions developed about the range of opportunities businesses provide for working holiday makers to gain employment.

 

2. Uses concepts and terms such as "industries", "manufacturing", and "wage". 

 

3. Interprets information related to questions developed on how changes in technology affect the labour market and working environment.

 

4. Uses concepts and terms such as “labour market”, “manufacturing”, “bulk production” and “consumer expectations” to explain the effects of such changes.

5. Interprets information related to questions on how businesses have adapted to the opportunities provided by technological advances and gives examples of resulting business trends.

 

6. Develops questions about and explains some of the positive and negative effects that have resulted from technological change.

 

7. Introduces income tax and GST (goods and services tax) as the 2 taxes that will impact working holiday makers.

 

8. Provides data related to the tax rate brackets for working holiday makers.

 

9. Interprets data related to income tax, to give an example of how income tax is calculated for working holiday makers.

 

10. Explains the disadvantages of “cash in hand” employment in comparison to paying income tax.

11. Develops questions about and analyses the costs and benefits of methods for preparing a budget and tracking expenditure.

 

12. Uses concepts and terms such as “spending”, “savings”, “budget”, “protected savings” and “track expenditure” to explain costs and benefits.

 

13. Explains the costs and benefits of using an app to track expenditure.

 

14. Explains the importance of working holiday makers managing their budget and the value of an app to do so.