ECONOMICS
Stage 1
Economic Contexts
Government involvement in the economy
- Situations where a government takes action in an economy to modify market outcomes.
- Government involvement in the economy, including:
- redistribution of income in order to address inequality.
Stage 2
Economic Contexts
Wealth, poverty and inequality
- Apply economic thinking to explore the ways in which wealth, poverty and inequality are measured, and how individuals, institutions, and governments can develop effective solutions to the problem.
- Analyse the impact of wealth, absolute and relative poverty, and inequality on economic and social systems.