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Year 8 · Humanities and Social Sciences · Knowledge and understanding

AC9HE8K01

how markets influence decisions about the allocation of resources to the production of goods and services, and the effect of prices on these decisions

The content description above is Australian Curriculum, Assessment and Reporting Authority (ACARA)’s own wording, reproduced unmodified from the Australian Curriculum v9.0, read in August 2026, and licensed CC BY 4.0.

© Australian Curriculum, Assessment and Reporting Authority (ACARA) 2010 to present, unless otherwise indicated. This material was downloaded from the Australian Curriculum website and was not modified. ACARA does not endorse this product and is not affiliated with it.

Taught alongside it

The rest of Knowledge and understanding in Year 8.

AC9HE8K02

different ways that businesses adapt to opportunities in the market and respond to the changing nature of work

AC9HE8K03

how First Nations Australian businesses and entrepreneurs develop opportunities in the market

AC9HE8K04

the importance of Australia’s system of taxation and how this system affects decision-making by individuals and businesses

AC9HE8K05

processes that individuals and/or businesses use to plan and budget to achieve short-term and long-term financial objectives

The same idea, year by year

Where AC9HE8K01 comes from and where it goes, for a student working below or above Year 8.

  1. Year 7AC9HE7K01why opportunity cost exists as decisions are made to allocate limited resources to meet unlimited needs and wants
  2. Year 7AC9HE7K02the reasons businesses exist and how different types of businesses provide goods and services
  3. Year 7AC9HE7K03characteristics of entrepreneurs and how these influence the success of a business
  4. Year 7AC9HE7K04the reasons individuals work, the types of work they are involved in, and how they may derive an income
  5. Year 7AC9HE7K05the rights and responsibilities of individuals and businesses in relation to consumer and financial products and services
  6. Year 9AC9HE9K01the role of Australia’s financial sector and its effect on economic decision-making by individuals, businesses and global markets
  7. Year 9AC9HE9K02how economic decision-making involves the interdependence of consumers, businesses, the financial sector and government
  8. Year 9AC9HE9K03the reasons Australia trades with other nations, and the patterns of trade between Australia and Asia
  9. Year 9AC9HE9K04processes that businesses use to create and maintain competitive advantage, including the role of entrepreneurs
  10. Year 9AC9HE9K05how individuals and businesses manage consumer and financial risks and rewards

Planning against AC9HE8K01?

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