20602_AC_Economics_and_buisness_Year_6_Making_choices_about_resources

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Australian Curriculum Economics and business (Year 6) Written by Brenda Gurr Published by R.I.C. Publications ® 2017 Copyright © R.I.C. Publications ® 2017 RIC–20602 All material identified by is material subject to copyright under the Copyright Act 1968 (Cth) and is owned by the Australian Curriculum, Assessment and Reporting Authority 2017. For all Australian Curriculum material except elaborations: This is an extract from the Australian Curriculum. Elaborations: This may be a modified extract from the Australian Curriculum and may include the work of other authors. Disclaimer: ACARA neither endorses nor verifies the accuracy of the information provided and accepts no responsibility for incomplete or inaccurate information. In particular, ACARA does not endorse or verify that: • The content descriptions are solely for a particular year and subject; • All the content descriptions for that year and subject have been used; and • The author’s material aligns with the Australian Curriculum content descriptions for the relevant year and subject. You can find the unaltered and most up to date version of this material at http://www.australiancurriculum.edu.au/ This material is reproduced with the permission of ACARA. Copyright Notice A number of pages in this book are worksheets. The publisher licenses the individual teacher who purchased this book to photocopy these pages to hand out to students in their own classes. Except as allowed under the Copyright Act 1968, any other use (including digital and online uses and the creation of overhead transparencies or posters) or any use by or for other people (including by or for other teachers, students or institutions) is prohibited. If you want a licence to do anything outside the scope of the BLM licence above, please contact the Publisher. This information is provided to clarify the limits of this licence and its interaction with the Copyright Act. For your added protection in the case of copyright inspection, please complete the form below. Retain this form, the complete original document and the invoice or receipt as proof of purchase. Name of Purchaser: Date of Purchase: Supplier: School Order# (if applicable): Signature of Purchaser: Internet websites In some instances, websites or specific URLs may be recommended. While these are checked and rechecked at the time of publication, the publisher has no control over any subsequent changes which may be made to webpages. It is strongly recommended that the class teacher checks all URLs before allowing students to access them. View all pages online PO Box 332 Greenwood Western Australia 6924 Website: www.ricpublications.com.au Email: mail@ricpublications.com.au
Foreword Australian Curriculum Economics and business is a two-book series designed to complement the teaching of economics and business in upper primary school. Each section of the book relates to one of the key concepts for developing an understanding of the subject: making choices about resources, effects of consumer and financial decisions, and business activities. The concepts are investigated by considering the three inquiry questions: Why are there trade-offs associated with making decisions? What are the possible effects of my consumer and financial choices? Why do businesses exist and what are the different ways they provide goods and services? Activities within each section link to the HASS Key ideas and develop skills identified in the Inquiry and skills strand of the HASS curriculum. The books in the series are: Australian Curriculum Economics and business – Consumer behaviour and its effects Year 5 Australian Curriculum Economics and business – Financial and business decisions Year 6 Contents Teachers notes.......................................................................iv–v Differentiation strategies.........................................................vi Additional activities...................................................................vii Glossary.......................................................................................viii HASS Key ideas chart...............................................................ix HASS Inquiry and skills chart..................................................x HASS Inquiry and skills with economics and business chart....................................................................xi HASS Concepts of interdisciplinary thinking chart........xii Cross-curriculum links............................................................xiii HASS Achievement standards chart.................................xiv HASS Achievement standards student checklist...........xv Part 1: Making choices about resources............2–23 Trade-offs and the cost of lost opportunities............. 2–9 Resource decisions........................................................10–15 Resource allocation on a national level..................16–20 Assessment 1........................................................................... 21 Assessment 2........................................................................... 22 Self-assessment...................................................................... 23 Part 2: Effects of consumer and financial decisions ................................................. 24–47 Consumer decisions and the family........................24–29 Consumer decisions, communities and business.............................................................................30–37 Consumer decisions and the environment..........38–44 Assessment 1...........................................................................45 Assessment 2...........................................................................46 Self-assessment...................................................................... 47 Part 3: Business activities ................................... 48–72 What is a business?........................................................48–53 Providing goods and services.....................................54–59 Primary, secondary and tertiary industries.............60–65 Not-for-profit organisations.........................................66–69 Assessment 1........................................................................... 70 Assessment 2........................................................................... 71 Self-assessment...................................................................... 72 Answers..................................................................... 73–76 R.I.C. Publications ® www.ricpublications.com.au Australian Curriculum Economics and business (Year 6) iii
Page 4 and 5: Teachers notes The core of Australi
Page 6 and 7: Differentiation strategies Many of
Page 8 and 9: Glossary Budget an estimate of inco
Page 10 and 11: HASS Inquiry and skills Questioning
Page 12 and 13: HASS Concepts of interdisciplinary
Page 14 and 15: HASS Achievement standards Knowledg
Page 16 and 17: Trade-offs and the cost of lost opp
Page 24 and 25: Resource decisions How the concept
Page 26 and 27: Resource decisions - 2 Read the tex
Page 28 and 29: Resource decisions - 4 Palm oil is
Page 30 and 31: Resource allocation on a national l
Page 36 and 37: Assessment - 2 1. Define scarcity.
Page 38: Answers Page 4 1. A trade-off is ma

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