YEAR 11 Commerce
Aims
To enable learners to take an effective part in economic activity and to better contribute to future economic well-being
To help learners understand people as consumers, producers and their interaction in the market
Provide practical learning experiences for a new small business with the school market day activity
Course Content
Consumers Choice and Demand - A study of the economic behaviour of individuals and households as consumers, and the influences that affect the demand for goods and service
Producers, Production, Resources, and Supply - A study of the decisions made by individual firms and industries regarding the use of resources to produce goods and services.
The Market - A study of the interaction between consumers and producers, resulting in the allocation of resources, the important relationships that exist between the various sectors of the economy, and factors that determine equilibrium in the market.
Market Day - This is an interactive unit of work that requires the students to create a business plan for their own small business and sell their service/product at a school market day.
Circular Flow - a model that illustrates how money circulates throughout the economy. It highlights the roles of the major players: households, businesses, the government, foreign markets, and financial institutions.
Skills
Thinking - Recalling knowledge, comprehension, processing information and evaluation
Investigative - Collecting and selecting appropriate information and data, processing and interpreting that data and drawing conclusions
Statistical - Interpreting statistical data, percentages, decimals, ranking sizes, constructing and interpreting a range of graphs
Decision-making - Setting desired goals, identifying obstacles in realising those goals, determining the alternatives before choosing the best one, and evaluating the consequences of decisions
Assessment
In class assessments, school examinations.
This subject has links with
Business Studies, Mathematics, English, and Geography
Prior knowledge required
Open entry
Next Step
NCEA Economics Level 2
NCEA Business Studies Level 2