Business structures
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Introduction
Students learn about the different business structures that exist and consider the advantages and disadvantages of each. They develop and apply criteria, including tax implications, to decide which business structure is more suitable in different scenarios.
Achievement standard
By the end of Year 8, students explain how markets operate and recognise why governments may influence the market’s operation. They explain the rights and responsibilities of consumers and businesses in terms of financial and economic decision-making. They explain why different types of businesses exist and describe the different ways businesses can respond to opportunities in the market. Students describe influences on the way people work and factors that may affect work in the future.
When researching, students develop questions and gather relevant data and information from different sources to investigate an economic or business issue. They interpret data to identify trends and relationships. They propose a range of alternative responses to an issue and evaluate the costs and benefits of each alternative. They apply economics and business knowledge, skills and concepts to familiar and unfamiliar problems. Students develop and present evidence-based conclusions using appropriate texts, subject-specific language and concepts. They identify the effects of an economic or business decision and the potential consequences of alternative actions.
Content descriptions
Economics and Business Knowledge and Understanding
Types of businesses and the ways that businesses respond to opportunities in Australia (ACHEK030).
Economics and Business Skills
Generate a range of alternatives in response to an observed economic or business issue or event, and evaluate the potential costs and benefits of each alternative (ACHES035).
Apply economics and business knowledge, skills and concepts in familiar and new situations (ACHES036).
Present evidence-based conclusions using economics and business language and concepts in a range of appropriate formats, and reflect on the consequences of alternative actions (ACHES037).
Student learning resources
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Business structures
Business structures
The pros and cons of different business structures
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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. If you assign this activity to a class, your students will be assigned all student resources on their 'My learning' page. You can also hand-pick the resources students are assigned by selecting individual resources when you add a work item to a class in 'My classes'.
- Read the explainer as a class. You may also want to play the business structures video
Alternatively, have students read the explainer individually or in pairs and take note using the Cornell note taking system.
- Students complete the interactive, followed by the worksheet.
- Discuss with students which business structures they identified as being the most appropriate for each business and why.