ECONOMICS
Unit 1: The Behaviour of Consumers and Business
Area of Study 1: Thinking like an economist
Outcome 1
- On completion of this unit the student should be able to describe the basic economic problem, discuss the role of consumers and businesses in the economy and analyse the factors that influence decision making.
Key knowledge
Consumers
- economic factors that may influence economic decisions made by consumers such as:external influences on economic decision making for example, culture, marketing, and government
Key skills
- investigate and evaluate alternative viewpoints on economic issues.