Years 9 and 10 Economics: Managing Your Money

Specific Learning Outcomes

At the completion of this topic, students should be able to:

• define what the study of economics is about.
• list some topics that the study of economics is concerned with.
• explain the difference between needs and wants.
• name different types of needs and describe the type of work done to satisfy these needs.
• explain why there is a problem of scarcity.
• explain the idea of opportunity cost.
• define factors of production.