Who provides the goods and services I need and want
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Introduction
Students explore how the private and public sector answer the fundamental economic questions of “What to produce?”, “How to produce?” and “For whom to produce?”. In doing so, they learn the difference between public and private goods and how the government produces goods and services they need and want.
Achievement standard
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
Why opportunity cost exists as decisions are made to allocate limited resources to meet unlimited needs and wants. (AC9HE7K01).
Economics and Business Skills
Locate, select and organise information and data from a range of sources. (AC9HE7S02).
Create descriptions and explanations, using economic and business knowledge, concepts and terms, and referencing information and data from sources. (AC9HE7S05).
Teacher resources
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Public and private goods
Student learning resources
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Venn diagram template
Is that from government?
Other resources you might like
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.
- Use the visualiser to display and explain the difference between public and private goods and how governments and the private sector answer the economic problem of What to produce? How to produce? and For whom to produce?
- Use a grouping strategy to organise students into groups and give them a copy of the Venn diagram template.
- Invite groups to complete the Venn diagram.
- Students open and play the interactive Is that from government?
- Invite students to add to their Venn diagrams.
- As a class, discuss the goods and services that students use that are provided by government and why.
- Students write a short summary of the 3 categories of goods and services and explain why some of these are provided by government.