Key issues in Australia Australia faces several important economic and business issues that impact our daily lives. One key issue is the balance between economic growth and environmental sustainability. As we develop industries and create jobs, we also need to protect our natural resources and reduce pollution. This balance is crucial for ensuring a healthy future for both the economy and the environment. Another signiýcant issue is the role of technology in the workforce. Automation and artiýcial intelligence are changing the types of jobs available and the skills needed to succeed. This means that education and training are more important than ever to prepare for the future job market.
FIGURE4 A busy fresh fruit and vegetable market with people participating as buyers and sellers.
Australia is also closely connected to the global economy, especially with countries in the Asia region. Trade with countries like China, Japan and South Korea is vital for our economy. These relationships help us access new markets for our goods and services, but they also mean that global events can impact our economy. Understanding these issues helps us see how Australia ýts into the bigger picture and why it’s important to make informed decisions about our future. Reasoning and problem-solving The development of reasoning and problem-solving skills are essential components of education. These skills are crucial for you to be able to navigate complex economic situations, make informed business and consumer decisions, and tackle any challenges effectively. Reasoning skills involve the ability to think logically, evaluate evidence and draw sound conclusions. Problem-solving skills focus on identifying issues, generating potential solutions and implementing effective strategies to resolve problems. 15.2.3 Economics and Business skills In addition to the concepts in Economics and Business, you will also develop four key skills.
TABLE2 The four Economics and Business skills that you will develop in Year 7. Skill Description Investigating
Develop and apply questions to investigate contemporary economic, business, work or ýnancial issues and systems; locate, select and organise relevant data and information from a range of sources Construct, interpret and draw conclusions from graphs, models and text to identify and describe economic and business issues, trends and cause-and-effect relationships; analyse and verify sources of data and information Analyse a response to an economic, business, work or ýnancial issue, identifying potential costs and beneýts Create and present descriptions and explanations, using subject-speciýc knowledge and terminology, with reference to sources
Interpreting and analysing data and information Evaluating, concluding and decision-making
Communicating
TOPIC15 Economics and Business concepts and skills 537
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