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
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.