By the end of Level 6: In Economics and Business, indicative progression towards the 8 By the end of Level 8: Students distinguish between needs and wants achievement standard may be when students: Students describe the interdependence of consumers and recognise that choices need to be made when and producers in the market and explain how markets allocating resources. operate to set prices and why governments may They recognise that consumer choices and influence the market’s operation. financial decisions are influenced by a range of They explain the rights and responsibilities of factors and describe the effects of these choices consumers and businesses when making economics and decisions on themselves, their family, others, and business decisions. the economy and the natural, economic and Students explain why and how individuals and business environments. businesses set, prioritise and plan for financial and Students identify strategies that will assist in organisational goals. making informed consumer and financial They describe the characteristics of successful decisions. businesses, the way these businesses use enterprising They explain the purpose of business and behaviours and capabilities, and explain how recognise the different ways that businesses entrepreneurial individuals can contribute to this choose to provide goods and services. success. Students outline the many reasons why people Students discuss how work contributes to societal work and describe the changing nature of work. wellbeing and describe the influences on the work They describe the nature of enterprising environment. behaviours and capabilities and explain why these They identify trends and relationships and propose behaviours are important for individuals and alternative responses to an economics and/or business businesses. issue or event. Students outline the advantages and They evaluate the and benefits of each alternative disadvantages of proposed actions in response to response and identify the effects and potential an economics and/or business or event and consequences of these actions. identify the possible effects of their decisions on themselves and others.
By the end of Level 6: Students distinguish between needs and wants and recognise that choices need to be made when allocating resources. They recognise that consumer choices and financial decisions are influenced by a range of factors and describe the effects of these choices and decisions on themselves, their family, others, the economy and the natural, economic and business environments. Students identify strategies that will assist in making informed consumer and financial decisions. They explain the purpose of business and recognise the different ways that businesses choose to provide goods and services. Students outline the many reasons why people work and describe the changing nature of work. They describe the nature of enterprising behaviours and capabilities and explain why these behaviours are important for individuals and businesses. Students outline the advantages and disadvantages of proposed actions in response to an economics and/or business or event and identify the possible effects of their decisions on themselves and others. In Economics and Business, indicative progression towards the 8 achievement standard may be when students: 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 economics and business decisions. Students explain why and how individuals and businesses set, prioritise and plan for financial and organisational goals. They describe the characteristics of successful businesses, the way these businesses use enterprising behaviours and capabilities, and explain how entrepreneurial individuals can contribute to this success. Students discuss how work contributes to societal wellbeing and describe the influences on the work environment. They identify trends and relationships and propose alternative responses to an economics and/or business issue or event. They evaluate the and benefits of each alternative response and identify the effects and potential consequences of these actions.
VC_Indicative_Progression_Econs-Business_Primary.docx