This unit is based on the Year 6 Australian Curriculum HASS Inquiry Skills, Knowledge and Understandings. Students explore the economics of decision making. By taking into mind the issues of scarcity and opportunity cost, students look at the factors involved in making decisions at an individual, community, national, and business level. The students learn these concepts through a series of presentations, games, and online resources, putting it to the test in a cumulative project and (optional) quiz.

7 x 1 hour lessons
Cross curriculum
13x resources/worksheets
Download now

Australian Curriculum - (QLD/SA/WA/NT/TAS/ACT)

ACHASSI122

Develop appropriate questions to guide an inquiry about people, events, developments, places, systems and challenges


ACHASSI123

Locate and collect relevant information and data from primary sources and secondary sources


ACHASSI124

Organise and represent data in a range of formats including tables, graphs and large- and small-scale maps, using discipline-appropriate conventions


ACHASSI127

Examine different viewpoints on actions, events, issues and phenomena in the past and present


ACHASSI128

Interpret data and information displayed in a range of formats to identify, describe and compare distributions, patterns and trends, and to infer relationships


ACHASSI129

Evaluate evidence to draw conclusions


ACHASSI130

Work in groups to generate responses to issues and challenges


ACHASSI131

Use criteria to make decisions and judgements and consider advantages and disadvantages of preferring one decision over others


ACHASSI132

Reflect on learning to propose personal and/or collective action in response to an issue or challenge, and predict the probable effects


ACHASSI133

Present ideas, findings, viewpoints and conclusions in a range of texts and modes that incorporate source materials, digital and non-digital representations and discipline-specific terms and conventions


ACHASSK149

How the concept of opportunity cost involves choices about the alternative use of resources and the need to consider trade-offs


ACHASSK150

The effect that consumer and financial decisions can have on the individual, the broader community and the environment


ACHASSK151

The reasons businesses exist and the different ways they provide goods and services


NSW

HT3-5

Applies a variety of skills of historical inquiry and communication


GE3-4

Acquires, processes and communicates geographical information using geographical tools for inquiry


GE3-2

Explains interactions and connections between people, places and environments


GE3-3

Compares and contrasts influences on the management of places and environments


HT3-3

Identifies change and continuity and describes the causes and effects of change on Australian society


HT3-1

Describes and explains the significance of people, groups, places and events to the development of Australia


VIC

VCGGC088

Collect and record relevant geographical data and information from the field and secondary sources, using ethical protocols


VCGGC089

Represent the location of places and other types of geographical data and information in different forms including diagrams, field sketches and large-scale and small-scale maps that conform to cartographic conventions of border, scale, legend, title, north point and source; using digital and spatial technologies as appropriate


VCGGC090

Interpret maps and other geographical data and information using digital and spatial technologies as appropriate, to develop identifications, descriptions, explanations and conclusions that use geographical terminology


VCHHC083

Identify the origin, content features and the purpose of historical sources and describe the context of these sources when explaining daily life in colonial Australia, reasons for migration and causes and effects of Federation


VCEBR002

Explore the concept of opportunity cost and explain how it involves choices about the alternative use of limited resources and the need to consider trade-offs


VCEBC005

Consider the effect that the consumer and financial decisions of individuals may have on themselves, their family, the broader community and the natural, economic and business environment


VCEBB006

Identify the reasons businesses exist and investigate the different ways they produce and distribute goods and services


Overview

The key concepts in this unit include;

 

  • We live in a world of unlimited wants but limited resources, forcing us to make choices.
  • With every choice on how to use our limited resources, we leave the next best option undone (opportunity cost).
  • Individual economic decisions have broader implications.
  • Business exists to service and sell to consumers who they deal with in a variety of ways.
  • There are different types of businesses that we deal with to meet our needs and satisfy our wants.
Learning Intention
  • We are learning to understand how the concept of opportunity cost involves choices about the alternative use of resources and the need to consider trade-offs.
  • We are learning to understand the effect that consumer and financial decisions can have on the individual, the broader community and the environment.
  • We are learning to understand the reasons businesses exist and the different ways they provide goods and services.
Linked Resources & Activities