How to choose what to buy
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Introduction
In this activity, students learn to use the PACED grid decision-making strategy to make a personal purchasing decision. In doing so, they explain how making an economic decision involves selecting one alternative over others.
By the end of Year 7, students describe how decisions are made to allocate limited resources to individuals and communities in an economy. They describe the reasons businesses exist and types of businesses, and identify how entrepreneurial characteristics contribute to the success of a business. They describe the reasons individuals choose to work, how they may derive an income and the types of work that exist. Students identify the rights and responsibilities of individuals and businesses in terms of products and services.
Students develop questions to investigate an economic and business issue. They locate, select and organise data and information from sources. They interpret information and data to identify economic and business issues, trends or effects. They develop a response and identify potential costs and benefits. Students use economic and business knowledge, concepts, terms and sources to create descriptions and explanations.
Content descriptions
Economics and Business Knowledge and Understanding
The rights and responsibilities of individuals and businesses in relation to consumer and financial products and services. (AC9HE7K05)
Economics and Business Skills
Locate, select and organise information and data from a range of sources. (AC9HE7S02)
Develop a response to an economic and business issue, identifying potential costs and benefits. (AC9HE7S04)
Teacher resources
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Decision-making strategy
Making decisions using the PACED decision-making strategy
Student learning resources
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Making an informed consumer decision
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.
As a class, brainstorm the factors that influence consumer decisions.
Examples advertising/marketing culture environmental considerations age customer service social media convenience disposable income peer pressure - Students complete part 1 of the worksheet. This will require internet access.
Note: change the scenario to suit the interests and situations of students in the class. - invite students to share the reasons for their decisions and record these on the board. Tally each reason to find the most popular.
- Students write a short statement (no more than 150 words) explaining the major factors that influence the purchasing decisions of young people.
- Display and explain the information on the visualiser. The visualiser provides a step-by-step guide to using the PACED grid as a tool for decision-making. Explain each step as you display the visualiser.
- Tell students that they will now apply this strategy to making a personal consumer decision.
- Invite students to individually complete part 2 of the worksheet.
- Use a reflection strategy for students to reflect on their learning, such as a 3-2-1 or reflection pyramid.