2 3 2 Sequence of Vce Activities and Assessment Tasks

Teaching Humanities 2 Senior Secondary Unit of Work 11 Economics Elizabeth Ferguson s4492512
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SENIOR SECONDARY UNIT OF WORK
DEVELOP A SEQUENCE OF VCE ACTIVITIES AND ASSESSMENT TASKS
VCE STUDY: Economics
UNIT 1 Economics, Choices and Consequences
AREA OF STUDY 1 A Market System, Outcome 1
In this unit outcome, students will have been introduced to what economics is and have learnt about
the problem of relative scarcity, the need for economic decision-making, and the concept of
opportunity cost. Students will then progress through the following topics;
The nature and distinctive features of the Australian economy, including the ownership,
allocation, and distribution of resources and the role of households, businesses, government
and other relevant groups.
The degree of market power in different markets, including perfect competition,
monopolistic competition, oligopoly and monopoly, and its impact upon prices, resource
allocation and economic welfare.
The nature and effectiveness of strategies employed by business to increase profitability,
including price discrimination, multiple branding and illegal, anti-competitive behaviour.
The role of markets in the determination of prices and the allocation of resources, including
influences on the incentives and choice of consumers and of business, and the factors that
could change demand and supply in the market and the impact on price and quality.
The key skills that students will develop in this section of the unit include the ability to;
Use a range of sources to acquire economic information.
Sort and communicate economic information.
Define key economic concepts and use them appropriately.
Apply economic knowledge, concepts and theories to predict the effect of economic events
on market outcomes.
Apply decision making to current economic problems within a specific market.
The activities that will be completed for these dot points of the study design include students;
Viewing and Taking Notes from a PowerPoint Presentation and Answering Questions.
Participating in a Marketplace Simulation Activity and Exploring Different Markets.
Watching The Men Who Made Us Spend Documentary and Completing the Associated
Worksheet.
Undertaking a Demand and Supply in the Mobile Phone Market Practical Task.

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Possible tasks which could be used to assess this section of the unit are;
A Case Study of a Specific Market.
An Investigation and Presentation of a Major Australian Companys Business Profile.
Some resources that could be used in the teaching of this unit include;
Morris, R 2013, Economics Down Under VCE Economics Units 1 & 2 Book 1 (8
th
edition), John
Wiley & Sons, Australia.
The Men Who Made Us Spend
The ASX Stock Market Online Game - http://www.asx.com.au/education/sharemarket-
games.htm.
Michael Choi Melbourne Property Auctioneer -
https://www.youtube.com/watch?v=qpoCildPiTM.
The Block 2012 Dan and Danni auction - https://www.youtube.com/watch?v=3_DlMs2-
4_o.
Cattle Sale at Hamilton - https://www.youtube.com/watch?v=YPT7GUdNM7Y.
BBC Documentary The Men Who Made Us Spend, three-part series.
Apple website - https://www.apple.com/au/
Samsung website - http://www.samsung.com/au/consumer/mobile-phone/mobile-phone
HTC website - http://www.htc.com/au/smartphones/
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ACTIVITY 1 THE DISTINCTIVE FEATURES OF THE AUSTRALIAN ECONOMY
OUTCOME KNOWLEDGE The nature and distinctive features of the Australian economy, including
the ownership, allocation, and distribution of resources and the role of households, businesses,
government and other relevant groups.
KEY SKILLS Define key economic concepts and use them appropriately.
RESOURCES Morris, R 2013, Economics Down Under VCE Economics Units 1 & 2 Book 1 (8
th

edition), John Wiley & Sons, Australia.
PowerPoint Presentation and Questions.
THE ACTIVITY Students will take notes from a PowerPoint Presentation of The Distinctive Features
of Australias Market Capitalist Economic System (attached in Appendix 1) and will answer the
associated questions in Appendix 2 using the information provided by the textbook in Section 1.7
Distinctive Features of Australias Market Capitalist Economic System.
ASSESSMENT This dot point has been included in the Assessment presented in Appendices 4 and 5,
which will occur after students have learnt the subsequent dot point in the study design (Activity 2).
ACTIVITY 2 MARKET POWER AND STRUCTURE
OUTCOME KNOWLEDGE The degree of market power in different markets, including perfect
competition, monopolistic competition, oligopoly and monopoly, and its impact upon prices,
resource allocation and economic welfare.
KEY SKILLS Define key economic concepts and use them appropriately; Apply economic
knowledge, concepts and theories to predict the effect of economic events on market outcomes;
and Apply decision making to current economic problems within a specific market.
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Market Structure and Power Activity Instructions.
The ASX Stock Market Online Game - http://www.asx.com.au/education/sharemarket-games.htm.
Michael Choi Melbourne Property Auctioneer - https://www.youtube.com/watch?v=qpoCildPiTM.
The Block 2012 Dan and Danni auction - https://www.youtube.com/watch?v=3_DlMs2-4_o.
Cattle Sale at Hamilton - https://www.youtube.com/watch?v=YPT7GUdNM7Y.
THE ACTIVITY Students will read Section 1.8 The Nature and Role of Markets in Australia,
including What is a Market?, Market Structure and Other Features of Markets, Preconditions for Pure
Competition in a Market, and The Impacts of Market Structure and Market Power from pages 17-20
of their textbooks.
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Students will set up different types of mini-marketplaces, as per the instructions in Appendix 3. In
this simulation activity, students take control of specific businesses which demonstrate the
different types of power that can be present in market structures. A consumer will then have to
purchases different goods and services from each one of the different market structures. Students
will identify what type of market power is present within those types of business, the features of
that type of market power and its economic impact, and note their responses on the board.
To learn about the different types of markets there are, students will;
- Play the ASX Stock Market Game.
- Listen to an incursion from a bank representative.
- Watch a clip of a Melbourne house auction and compare it to how house auctions are
portrayed on reality television shows such as The Block.
- Listen to a recording of a livestock auction a cattle sale.
- Go on an excursion to the Queen Victoria markets.
ASSESSMENT Students will conduct a case study of a specific market from the following list; the
labour market, rural commodity markets, non-rural commodity markets, the finance market, the
foreign exchange market, the property housing market, sport and leisure markets and the stock
market. They will write a report which answers the questions corresponding to their specific market
which are listed in Appendix 4.
ASSESSMENT KNOWLEDGE The nature and distinctive features of the Australian economy,
including the ownership, allocation, and distribution of resources and the role of households,
businesses, government and other relevant groups; and The degree of market power in different
markets, including perfect competition, monopolistic competition, oligopoly and monopoly, and its
impact upon prices, resource allocation and economic welfare.
ASSESSMENT SKILLS Use a range of sources to acquire economic information; Sort and
communicate economic information; Define key economic concepts and use them appropriately;
Apply economic knowledge, concepts and theories to predict the effect of economic events on
market outcomes; and Apply decision making to current economic problems within a specific
market.
ASSESSMENT RUBRIC The rubric for this assessment has been included in Appendix 5.
ACTIVITY 3 PROFIT-ENHANCING STRATEGIES USED BY BUSINESSES
OUTCOME KNOWLEDGE The nature and effectiveness of strategies employed by business to
increase profitability, including price discrimination, multiple branding and illegal, anti-competitive
behaviour.
KEY SKILLS Use a range of sources to acquire economic information; Sort and communicate
economic information; and Define key economic concepts and use them appropriately.
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BBC Documentary The Men Who Made Us Spend, three-part series.
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THE ACTIVITY As a class, students will read aloud page 20 of their textbook.
Students will watch part 1 of the three-part BBC documentary series called The Men Who Made Us
Spend, and fill in the accompanying worksheet featured in Appendix 6. Each part of the documentary
is one hour in length, therefore only part 1 will be watched in class but students will be encouraged
to watch parts 2 and 3 in their own time.
Students will then note whether any of the eight strategies listed in their textbook (page 20) were
mentioned in the documentary. If they were not, students will add these strategies to their table,
consider an example of when they might be used by businesses to increase profitability, and
speculate on the outcome or consequence of the use of this strategy.
ASSESSMENT This aspect of the study design has been incorporated into the Assessment found in
Appendices 7 and 8, which will follow Activity 4.
ACTIVITY 4 THE ROLE OF MARKETS IN PRICES, RESOURCES, AND QUALITY
OUTCOME KNOWLEDGE The role of markets in the determination of prices and the allocation of
resources, including influences on the incentives and choice of consumers and of business, and the
factors that could change demand and supply in the market and the impact on price and quality.
KEY SKILLS Use of a range of sources to acquire economic information; Sort and communicate
economic information; Apply decision-making to current economic problems within a specific
market; and Apply economic knowledge, concepts and theories to predict the effect of economic
events in market outcomes.
RESOURCES Apple website - https://www.apple.com/au/
Samsung website - http://www.samsung.com/au/consumer/mobile-phone/mobile-phone
HTC website - http://www.htc.com/au/smartphones/
THE ACTIVITY As a class, students will research three types of mobile phones; Apples Iphone, the
Samsung Galaxy, and the HTC One. On the board, students will list their statistics, regarding battery
life, size of screen, weight, available apps, camera, and price. Students will then choose which phone
they would hypothetically like to purchase.
Students then have to consider;
- What factors helped you to make your decision?
- What if everyone only wanted the Iphone? What would happen to the price and
availability of the Iphone?
- What if you had decided to purchase the HTC, then the price of the Samsung was
discounted by $200? Would that influence your choice?
Students will then brainstorm what other factors could change the demand and supply of a
particular good (mobile phones) or service, and what impacts these would have on its price and
quantity (availability). A mind map of student responses will be shared on the board, and will be
added to by the teacher if necessary.
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Students will be given the assessment requirements and rubrics to read and ask any questions if
necessary. Students will be given class time to work on this assessment task.
ASSESSMENT Students will conduct an investigation into an Australian-owned business, and
present their profile to the class. Students will be required to consider the goods and services that
business provides, values, goals, and advertising/profit strategies. The full outline of requirements
for this assessment can be found in Appendix 7.
ASSESSMENT KNOWLEDGE The nature and effectiveness of strategies employed by business to
increase profitability, including price discrimination, multiple branding and illegal, anti-competitive
behaviour; and The role of markets in the determination of prices and the allocation of resources,
including influences on the incentives and choice of consumers and of business, and the factors that
could change demand and supply in the market and the impact on price and quality.
ASSESSMENT SKILLS Use a range of sources to acquire economic information; Sort and
communicate economic information; and Define key economic concepts and use them
appropriately.
ASSESSMENT RUBRICS The rubric for the Research/Investigation and Presentation components of
this assessment is present in Appendix 8 of this document.
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APPENDIX 1 POWERPOINT PRESENTATION OF THE DISTINCTIVE FEATURES OF AUSTRALIAS
MARKET CAPITALIST ECONOMIC SYSTEM

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PowerPoint Information in Word Format:

The Beliefs and Goals Underpinning Australias Market Capitalist Economy:
Key beliefs about individual rights and economic freedom.
Key beliefs or desirable economic goals pursued by the Australian government.
Key Beliefs about Individual Rights and Economic Freedom:
A belief in free enterprise (people have the choice to produce resources).
A belief in private enterprise (most property and assets are owned by individuals).
A belief in self-interest (people are motivated by personal greed).
A belief in competition and efficiency (buyers and sellers are encouraged to outdo rivals).
A belief in consumer sovereignty (the consumer has power to make decisions through
markets).
Collective Economic Goals Pursued by the Australian Government:
The goal of strong and sustainable rate of economic growth (annual rise of 3-4% a year).
The goal of full employment (a maximum unemployment rate of 5%).
The goal of low inflation (a low rise of 2-3% a year).
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The goal of external stability (paying our way as a nation in international financial
transactions).
The goal of an equitable distribution of income and wealth (fair access to essential goods
and services for reasonable living standards).
The ultimate goal of improvements in general living standards (a rise in peoples economic
well-being).
Australias Capitalist System of Ownership:
Australia predominantly relies on private enterprise or ownership of businesses and the
means of productions.
This system is called capitalism, although Australia has a limited degree of government
ownership of enterprise.
About 80% of resources assets and businesses are owned by private individuals. Sole
traders, franchises, and public companies help to make up the private sector of the
Australian economy.
Australian governments own about 20% of assets many of these are essential to society
such as law and order, defence, community services (such as hospitals, schools, roads and
housing).
Australias Market System:
Australia is predominantly a market economy.
We rely on the free operation of the price or market system to make the three important
economic decisions:
o What and how much to produce? (Decisions of resource allocation).
o How to produce? (Production methods).
o For whom to produce? (How goods, services and incomes are divided between
individuals).
When the market system fails, there is a need for government intervention, regulation and
planning.
There are other institutions that influence the decision-making process, such as;
o Unions and labour organisations.
o Powerful business monopolies and oligopolies.
o Financial institutions.
o Advertising agencies shaping fashions and tastes.
o Traditions, customs and beliefs.
o Journalists and the media.
o Pressure groups.
The Three Key Economic Questions of Australias Market Economy:
Decisions made by households through the market affect what types of goods and services
Australia produces.
Therefore, it is consumer sovereignty, rather than government planning, which dominates
decision-making in our market economy.
Your spending choices in different markets tell businesses exactly what types of things you
want to see produced.
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Consumer spending or demand for a particular item affects the market price of that item.

Strategies Employed by the Governments to limit Market Failure:
Government legislation affects what consumers and firms can and cannot purchase.
Discouraging socially undesirable types of goods and services, such as hard drugs, guns
chemicals. Etc., or placing special taxes on particular things to discourage consumption.
Encouraging socially desirable production of goods and services, especially those which are
under-produced or too expensive for most people to afford.
Promoting strong competition and efficiency to help increase efficiency, lower prices and
improve the quality of goods and services produced.
Decisions Made by Businesses Affect How Goods and Services are Produced:
Privately owned businesses only want to produce goods and services that are profitable,
therefore unprofitable production is abandoned.
Profit is greatly affected by the costs of production (the prices paid for resources such as
labour, raw materials and equipment).
When businesses are making decisions about how they will create a particular good or
service, they will select the lowest cost method of production.
In general, the Australian government does not make decisions about production methods
or how things should be made.
Decisions about For Whom to Produce Goods and Services are made by Australias Market System:
Generally, only those who earn income can purchase goods and services.
The market system helps to decide how much money someone will be paid for selling their
resources, when then affects their ability to purchase goods and services.
The Australian government uses various policies to help promote greater equity or fairness
in incomes and unequal access to goods and services;
o Progressive taxes the upper income earners pay tax at a higher rate than low
income earners.
o Cash welfare benefits are made available to the neediest of individuals to help lift
their incomes so they can purchase more goods and services.
o Free or cheap public services are paid for by tax revenue to help the poorer
individuals enjoy reasonable living standards.
o Set the minimum wage to ensure that workers can better purchase necessities and
enjoy reasonable living standards.

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APPENDIX 2 QUESTIONS
1. Identify and outline any three important values commonly held by individuals in Australia,
that help shape our economic system.
2. Identify and outline the following values or goals pursued by the Australian government;
a. Low inflation.
b. Strong and sustainable economic growth.
c. Full employment.
d. Equitable income distribution.
3. What is private enterprise?
4. What are the main differences between privatisation and corporatisation of business?
5. What is a market economy?
6. In Australias predominantly market economy, explain how each of the following questions
are answered?
a. What type of goods and services and how much to produce?
b. How should goods and services be produced?
c. For whom are goods and service to be produced?
7. List and outline important policies used by the Australian government to help correct market
failure in each of the following areas:
a. What type of goods and services and how much to produce.
b. How goods and services should be produced.
c. For whom goods and services are to be produced.

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APPENDIX 3 MARKETPLACE ACTIVITY INSTRUCTIONS
Students will set up their own marketplace with each type of market structure. There will be on
example of;
- A monopoly Australia Post.
- An oligopoly Coles, Woolworths, Aldi.
- Monopolistic competition K-Mart, Nike, Adidas, Cotton On.
- Pure competition News Extra, The Village Newsagency, Main Street Newsagents, CGs
Papers and Cards, Johns Stationary.
Each student will be grouped into pairs and be given a business from the above list. Students will
need to make a sign for their business of what goods and services they provide and at what price
(based on the information they know about the different types of market power and/or advertised
prices from that business/industry). One student will be assigned to the role of the consumer.
The students will set up their businesses (a table each) in response to the consumers needs. The
consumer will need to;
- Buy a t-shirt for their friends birthday from K-Mart, Nike, Adidas, or Cotton On.
- Buy a birthday card from News Extra, The Village Newsagency, Main Street Newsagents,
CGs Papers and Cards, or Johns Stationary.
- Post the birthday card and present with Australia Post.
- Pick up some groceries including ham, cereal, and washing powder from either Coles,
Woolworths, or Aldi.
The consumer will purchase each of the goods and services on their list in order. The students who
remain in the audience (I. e. If their business is not currently being visited by the consumer) will help
the consumer to decide where to purchase the required goods. For each good/service, they will
determine what type of market power is present (pure monopoly, oligopoly, monopolistic
competition and perfect competition), the features of that type of market power, and the impact
upon prices, quality and availability. Students can use their textbooks to assist them, and their
answers will be compiled on a table on the board for students to make notes of later. This process
will be repeated for each good and service that the consumer has to buy.

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APPENDIX 4 QUESTIONS TO BE ADDRESSED IN MARKET CASE STUDY
You are to conduct a case study (no more than two-typed pages in length) of a specific market from
the following list;
- the labour market
- rural commodity markets
- non-rural commodity markets
- the finance market
- the foreign exchange market
- the property housing market
- sport and leisure markets
- the stock market
Your case study will answer all of the following questions which are pertinent to your market of
choice. I. e. If you have chosen to write a case study on the labour market in Australia, then you
must answer all of the seven questions listed under the heading The Labour Market.
THE LABOUR MARKET:
- What are the general features of Australias labour market?
- Who are the demanders or buyers of labour and what affects their decisions?
- Who are the suppliers or sellers of labour and what affects their decisions?
- What is the type of market structure and level of competition within Australias labour
market?
- What are the short- and long-term trends in the price of labour (wages)?
- What are the recent short- and long-term causes of price or wage trends in the labour
market?
- What are the good and bad effects of changes in the labour prices or costs on economic
decisions and resource allocation in Australia?
RURAL COMMODITY MARKETS:
- What are the general features of agricultural or rural commodity markets?
- Who are the demanders, buyers or consumers of rural commodities and what affects
their decisions?
- Who are the suppliers or sellers of rural commodities and what affects their decisions?
- What is the type of market structure and level of competition in Australias rural
commodity markets?
- What are the short- and long-term trends in the price of rural commodities?
- What are the recent causes of short- and long-term price trends in the rural commodity
markets?
- What are the good and bad effects of changes in the market prices of rural commodities
on economic decisions and resource allocation in Australia?
NON-RURAL COMMODITY MARKETS:
- What are the general features of non- rural commodity markets?
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- Who are the demanders, buyers or consumers of non-rural commodities and what
affects their decisions?
- Who are the suppliers or sellers of non-rural commodities and what affects their
decisions?
- What is the type of market structure and level of competition in Australias non-rural
commodity markets?
- What are the short- and long-term trends in the price of non-rural commodities?
- What are the causes of short- and long-term price trends in the non-rural commodity
markets?
- What are the good and bad effects of changes in the market prices of non-rural
commodity on economic decisions and resource allocation in Australia?
THE FINANCE MARKET:
- What are the general features of finance markets?
- Who are the demanders, buyers or borrowers of finance and what affects their
decisions?
- Who are the suppliers or lenders of finance and what affects their decisions?
- What is the type of market structure and level of competition in Australias finance
markets?
- What are the short- and long-term trends in the price or interest rate for finance?
- What are the recent short- and long-term trends in price or interest for finance?
- What are the good and bad effects of changes in interest rates on economic decisions
and resource allocation in Australia?
FOREIGN EXCHANGE MARKET:
- What are the general features of the foreign exchange market for the Australian dollar?
- Who are the demanders or buyers of foreign exchange and the Australian dollar, and
what affects their decisions?
- Who are the suppliers or sellers of foreign exchange and the Australian dollar, and what
- What is the type of market structure and level of competition in the foreign exchange
market?
- What are the short- and long-term trends in the price or exchange rate for the Australian
dollar?
- What are the recent short- and long-term causes of prices or exchange rate trends for
the Australian dollar in the foreign exchange market?
- What are the good and bad effects of changes in the market prices or exchange rate for
the Australian dollar on economic decisions and resource allocation in Australia?
THE PROPERTY/HOUSING MARKET:
- What are the general features of local and/or national property markets?
- Who are the demanders, buyers, renters or consumers of property and what affects
their decisions?
- Who are the suppliers or sellers of property and what affects their decisions?
- What is the type of market structure and level of competition in local and/or national
property markets in Australia?
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- What are the short- and long-term trends in the price of property (as renters or as
buyers)?
- What are the recent short- and long-term causes of price (and/or rent) trends in the
property markets?
- What are the good and bad effects of changes in the market prices of property (and/or
rents) on economic decisions and resource allocation in Australia?
SPORT AND LEISURE MARKETS:
- What are the general features of local and/or national sport and leisure markets?
- Who are the demanders, buyers or consumers of sport and leisure services, and what
- Who are the suppliers or sellers of sport and leisure services, and what affects their
decisions?
- What is the type of market structure and level of competition in local and/or national
leisure markets in Australia?
- What are the short- and long-term trends in sport and leisure prices?
- What are the recent short- and long-term causes of price trends in sport and leisure
markets?
- What are the good and bad effects of changes in the market prices of sport and leisure
services on economic decisions and resource allocation in Australia?
THE STOCK MARKET:
- What are the general features of the stock market or Australian Securities Exchange
(ASX)?
- Who are the demanders or buyers of company stock, shares and equities listed on the
ASX, and what affects their decisions (either take one particular company or cover
shares in general)?
- Who are the suppliers or sellers of company stock, shares and equities listed on the ASX,
and what affects their decisions (either take one particular company or cover shares in
general)?
- What is the type of market structure and level of competition in the ASX or stock
market?
- What are the short- and long-term trends in the shares prices listed on the ASX (see
ASX200 or take the price of a particular share)?
- What are the recent causes of short- and long-term trends in share prices (either take
one particular company or cover shares in general)?
- What are the good and bad effects of changes in the market prices of shares on
economic decisions and resource allocation in Australia (either take one particular
company or cover shares in general)?

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APPENDIX 5 ASSESSMENT RUBRIC FOR MARKET CASE STUDY
1 - Very Low 2 - Low 3 - Medium 4 - High 5 - Very High
Use and reference of
a range of resources
in the case study.
The student has not
included information
from a range of
resources.
The student has only
used information from
1-2 sources.
The student has used
and referenced
economic information
from 3-4 resources.
The student has
included and
referenced 4-5 sources
correctly in their case
study.
The student has
correctly referenced
more than 5 resources.
Use and definition of
key economic
concepts.
The case study has not
used or defined key
economic concepts.
The student has only
used a few economic
terms, without defining
them.
The student has
included basic
economic terms, with
definitions for most of
them.
The student has
correctly included and
defined key economic
concepts related to
their market of choice.
The student has
comprehensively used
and defined key
economic concepts.
Application of
economic knowledge
to describe economic
decisions and their
effects on specific
markets.
The student has not
applied any economic
knowledge in
answering the
questions related to
the market.
The student has made
a limited attempt to
apply economic
concepts to market
decisions and
outcomes.
The student has
described economic
decisions and their
effects on market
outcomes.
The student has
applied economic
knowledge to describe
and explain the
impacts that economic
decisions have had on
their market of choice.
The student has
extensively described,
explained and
predicted market
outcomes and effects
from past economic
decisions.
Use of correct
grammar, spelling
and structure.
no attempt at
structuring the case
study, or using correct
spelling and grammar.
A limited attempt has
been made to
structure the report,
and there are many
mistakes in spelling
and grammar.
The student has used
an appropriate
structure, with some
mistakes in spelling
and grammar use.
The case study has
been structured well,
with few mistakes in
grammar and spelling.
There are no mistakes
in the structure,
spelling and grammar
of the case study.
Comments:_____________________________________________________________________________________________ /20
____________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________
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APPENDIX 6 THE MEN WHO MADE US SPEND WORKSHEET
Watch Part 1 of the Men Who Made Us Spend and identify the strategies that businesses used to
increase profitability, an example of the strategys use and the outcome or consequence it had on
the consumer, business and/or product.
Strategy Used Example of Use Outcome/Consequences

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SAMPLE ANSWERS:
Strategy Used Example of Use Outcome/Consequences
Exploitation of consumers
fears and desires.
Manipulate emotions and
exploit anxieties by telling
people that they will fall
behind.
Fear of being left behind
they want to keep up with the
Jones and therefore buy the
latest products unnecessarily.
Prevention from overthinking. Want versus need. Whip you
up into a frenzy to make you
impulse buy.
We dont know why we want
things, we just know that we
want them.
Engineering of a relentless
cycle: yesterdays desired item
is tomorrows trash.
Releasing constant upgrades. We constantly feel like the
product that we have is not
good enough and thus have to
keep updating them.
Planned obsolescence.

Began in the 1920s with light
bulbs.
In 2004, iPod batteries only
lasted 18 months they
charged an astronomical fee
for battery changes.
Customers were told they
might as well go and buy a
new iPod.
Means that our products no
longer have a long lifespan,
and we are constantly having
to replace them.
Choice of goods has been
linked to democracy.
Companies embed continual
spending in our minds,
through the availability of an
array of choices.
Gave individuals a new identity
as consumers with free choice,
not just as workers.
Computer aided designs
enabled cheaper variations of
products to be made.
Portable radios could now
come in all shapes, colours and
sizes cheaply.
New array of choice, for
cheaper prices, increased
consumerism.
Turning long-lasting items into
short-term, frequent
purchases.
Swatch with their watches. Swatch wanted people to buy
four watches a year, not one
for their life-time. One year
after their campaign, they sold
12 million watches in Britain.
Raise prices when there is no
competition.
IKEA in Britain in the 1990s did
not have any serious furniture
competitors.
People bought expensive
furniture regularly because
they had no alternatives.
Constantly change what is
fashionable.
People dont want to been
seen as unfashionable or being
left behind.
Make upgrades seem desirable
and necessary.
Apple releases new
generations of products which
are very similar to the previous
ones.
People keep buying the new
product even though theres
not much difference between
the new one and what theyve
already got.
Altering goods unnecessarily
to prevent repairs.
Apple invented a new screw
for their iPhones, so that
people could not repair their
own phones.
Repair was only available by
Apple at an astronomical fee,
so it was cheaper for people to
go out and buy a new one.

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APPENDIX 7 INVESTIGATION AND PRESENTATION OF AN AUSTRALIAN COMPANYS BUSINESS
PROFILE
You will investigate on of the following major businesses who operate within the Australian
economy;
- Holden.
- Bulla Dairy Foods.
- Darrell Lea.
- Billabong.
- Cotton On.
- Boot Juice Bars.
- Australia Post.
- BHP Billiton.
- Optus.
- Village Cinemas.
- Crazy Johns.
- Harvey Norman.
- IGA.
- Woolworths.
- Commonwealth Bank.
- L. G. Hooker Real
Estate.
- Slater & Gordon.
- iiNet.
- Jetstar.
- AGL Energy.
Students are required to develop a profile of their chosen business, including;
- Name, industry, size of company. E. g. number of employees, offices/stores. Etc. and any
other important information about the company.
- A general list of the main goods and/or services they provide, and at what prices.
- An explanation of the business impact (positive or negative) on that industry,
specifically in determining prices and the allocation of resources.
- Strategies (legal or illegal) used by the business in the past/present to increase
profitability. What incentives does this business offer to encourage consumers to
purchase their goods and/or services?
- Factors that have affected or could affect the demand and supply of the quality and
quantity of their goods and/or services in that business industry/market of operation.
Students will present their profile in a five-minute presentation using a visual aid. E. g. PowerPoint
Presentation, Keynote, Prezi, Poster, Visual recording. Etc. Your profile presentation will also be
assessed according to quality of eye contact, tone and language used.
21

APPENDIX 8 ASSESSMENT RUBRIC FOR BUSINESS PROFILE RESEARCH INVESTIGATION AND PRESENTATION
Sort, communicate,
define and reference
economic information.
The student has not
researched their
business, and has not
included their research
in their presentation.
The student has
attempted to define,
and communicate the
required information
about their business,
without adequate
referencing.
The student has
included the required
components of their
profile, evidenced by a
variety of resources
(with some mistakes in
referencing).
The profile fully
explains the business
economic position
using a wide range of
correctly referenced
resources.
The student has
extensively
researched their
business, identified
relevant information,
defined economic
terms and referenced
the resources used.

Explanation of the
business impact on the
markets supply and
demand.
no attempt to explain
the business impact
on their market.
a limited effort to
describe the business
impact in their
associated market.
The student has
described and
explained their chosen
business impact on
the market.
The student has
described and
explained the
business impact on
the market supply
and demand of
goods/services.
The student has
comprehensively
described and
explained the
business impact on
the markets supply
and demand, using
several relevant
examples.

Identification and
explanation of
strategies and factors
that affect the business
profitability, prices, and
product availability.

There has been no
attempt to identify
strategies or factors
which affect the
business trading
abilities.
The student has
identified but failed to
explain the different
which affect business
profitability, prices
and product
availability.
The student has
identified and
provided basic
explanations for the
strategies or factors
which affect business
and resource
allocation (product
availability).

The student has
identified and
explained several
which can affect or
have affected their
chosen business
and product
availability.
The student has fully
identified and
explained several
relevant business
strategies that their
business employs and
factors affecting their
profit margin, prices
of goods/products
and resource/product
availability.
22

P
R
E
S
E
N
T
A
T
I
O
N

C
R
I
T
E
R
I
A

Use of visual
aids.
The student has not
used a visual aid.
The student has
attempted to include a
visual aid in their
presentation.
effective use of at
least one visual aid.
The student has
attempted to
incorporate more than
one visual aid into
their presentation.

The student has
seamlessly used
several visual aids in
their presentation.
Quality of
presentation
eye contact,
clear voice,
appropriate
tone. Etc.
The student has not
made eye contact, or
used a clear,
moderated voice.
The student has
attempted to present
their information in a
clear manner with
some eye contact.
The students has used
an appropriate
amount of eye contact
and a clear, loud tone
of voice in their
presentation.

The student has
successfully used eye
contact and voice
modulation to
communicate their
material in an
engaging manner
The student has fully
engaged his/her
audience with
continual eye contact,
and a clear,
appropriate tone of
voice.
Comments:_______________________________________________________________________________________________ /25
____________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________
____________________________________________________________________________________________________________________

2 3 2 Sequence of Vce Activities and Assessment Tasks

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Teaching Humanities 2 Senior Secondary Unit of Work 11 Economics Elizabeth Ferguson s4492512

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