Businesses and the shadow economy
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Introduction
Businesses have responsibility to operate within the regulatory and taxation systems. In this activity, students are introduced to the concept of the shadow economy and how operating outside the regulatory and taxation systems impacts on individuals, businesses, society and the economy.
Australian Curriculum or Syllabus
This activity provides an overview of what it means to be in business with a focus on the effects of businesses operating outside the regulatory and taxation systems.
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Student learning resources
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Instructions
What if?
Explainer
What is the shadow economy?
Suggested activity sequence
This sequence is intended as a framework to be modified and adapted by teachers to suit the needs of a class group.
- Think-pair-share: What is the shadow economy? What are some examples?
- As a class, read the explainer, clarifying content and answering questions as needed.
- As a class, brainstorm:
How do shadow economy activities affect government services?
- Use a grouping strategy to organise students into groups of 4.
- Students work collaboratively to complete the ‘what’ if’
- Use a discussion strategy, such as a snowball discussion to enable class discussion of the following questions:
- What are the consequences of shadow economy activities?
- Who is penalised by shadow economy activities? Who is being cheated – the ATO, the community?
- Why does the government strive to prevent shadow economy activities?