Economics made physical. One commodity is traced end-to-end so that opportunity cost, the circular flow and business ownership are discovered inside a real chain rather than defined on a slide.
This unit teaches the following mandated content, quoted verbatim from the revised Western Australian Curriculum.
“Why opportunity cost exists when decisions are made to allocate limited resources to meet unlimited needs and wants”
“The interdependence between households and businesses using the two-sector circular flow model”
“How businesses respond to the changing tastes and preferences of consumers”
“How businesses set prices for a product and how they might adjust the price according to changes in demand”
“Different types of business ownership”
Source: SCSA, Humanities and Social Sciences — Scope and sequence of the mandated curriculum content, P–10, For implementation in 2026.