Year 8 Economics and Business standard elaborations A B C D E The folio of a student’s work has the following characteristics: Knowledge and understanding thorough explanation of how markets operate detailed description of why governments may influence the market’s operation detailed explanation of how markets operate description of why governments may influence the market’s operation explanation of how markets operate recognition of why governments may influence the market’s operation description of how markets operate recognition of aspects of why governments may influence the market’s operation statements about how markets operate fragmented recognition of aspects of why governments may influence the market’s operation thorough explanation of the rights and responsibilities of consumers and businesses in terms of financial and economic decision making detailed explanation of the rights and responsibilities of consumers and businesses in terms of financial and economic decision making explanation of the rights and responsibilities of consumers and businesses in terms of financial and economic decision making description of the rights and responsibilities of consumers and businesses in terms of financial and economic decision making statements about the rights and responsibilities of consumers and businesses in terms of financial and economic decision making thorough explanation of why different types of businesses exist thorough of the different ways businesses can to opportunities in the market detailed explanation of why different types of businesses exist detailed of the different ways businesses can to opportunities in the market explanation of why different types of businesses exist of the different ways businesses can to opportunities in the market description of why different types of businesses exist identification of ways businesses can respond to opportunities in the market statements about: why different types of businesses exist ways they can respond to the market thorough description of: influences on the way people work factors that may affect work in the future detailed description of: influences on the way people work factors that may affect work in the future description of: influences on the way people work factors that may affect work in the future identification of: influences on the way people work factors that may affect work in the future statements about: people and work factors that may affect work in the future
Skills development of discerning questions and gathering of relevant data and information from different sources when researching to effectively investigate an economic or business issue development of informed questions and gathering of relevant data and information from different sources when researching to effectively investigate an economic or business issue development of questions and gathering of relevant data and information from different sources when researching to investigate an economic or business issue development of questions and selection of data and information to investigate aspects of an economic or business issue use of questions, data and information to aspects of an economic or business issue ation of data to and explain trends and relationships ation of data to and describe trends and relationships ation of data to trends and relationships use of data to aspects of trends and relationships statements about data and trends proposal of a range of alternative responses to an issue discerning evaluation of the costs and benefits of each alternative proposal of a range of alternative responses to an issue informed evaluation of the costs and benefits of each alternative proposal of a range of alternative responses to an issue evaluation of the costs and benefits of each alternative identification of alternative responses to an issue description of the costs and benefits of each alternative statements about: responses to an issue aspects of the costs and benefits discerning application of economics and business knowledge, skills and concepts to familiar and unfamiliar problems informed application of economics and business knowledge, skills and concepts to familiar and unfamiliar problems application of economics and business knowledge, skills and concepts to familiar and unfamiliar problems application of aspects of economics and business knowledge and skills to familiar and unfamiliar problems use of economics and business knowledge and skills to make statements about familiar problems development and purposeful presentation of evidencebased conclusions using appropriate texts, relevant subject-specific language and concepts development and effective presentation of evidencebased conclusions using appropriate texts, relevant subject-specific language and concepts development and presentation of evidencebased conclusions using appropriate texts, subject-specific language and concepts partial development and partial presentation of conclusions using texts and aspects of terms and concepts fragmented presentation using texts and fragmented use of terms and concepts identification and explanation of the: effects of an economic or business decision potential consequences of alternative actions identification and description of the: effects of an economic or business decision potential consequences of alternative actions identification of the: effects of an economic or business decision potential consequences of alternative actions identification of aspects of the: effects of an economic or business decision the potential consequences of alternative actions statements about: an economic or business decision the potential consequences of alternative actions Key shading emphasises the qualities that discriminate between the A–E descriptors