How much is that?Bookmark
Economics and Business
China, India, Indonesia
In this learning sequence students investigate the price of some everyday food and fibre goods in Australia and countries of the Asia region.
Use the following activities to investigate how the prices of food and fibre products are determined and vary across Australia and countries in the Asia region.
- Before you view the video, predict why shops may be charging too much.
- Watch the video Do shops charge too much? and think about the everyday food and fibre goods you need to purchase – how expensive do you think they are?
Jeans in a store
- Read the article Deutsche Bank says Australia is one of the world's most expensive countries, which compares the cost of some common goods between Australia and other countries.
- List the prices for a hamburger, bottle of soft drink and a pair of jeans in Australia, and then add seven more food or fibre everyday goods so that you have a total list of ten.
- Research the internet, newspapers and shopping catalogues to find the cost of these ten items in at least three other countries in the Asia region, for example, China, India and Indonesia. Write them down in the foreign currency (eg Japanese Yen) and then convert to Australian dollars (AUD) using XE Currency Converter.
- Compare and contrast the prices for your ten items.
- Identify where you can buy the cheapest goods.
- Locate where the goods are most expensive.
- What else did you notice?
Consider the factors involved in food and fibre production such as capital, labour costs and whether the food and fibre is imported or grown locally.
- Why might these factors be different in Australia to countries of Asia?
Australian Curriculum alignment
Learning area: Economics and Business
Year level: Year 7
Country: China, India, Indonesia
Economics and Business Knowledge and Understanding
The ways consumers and producers respond to and influence each other in the market (ACHEK017)
Cross-curriculum priority: Asia and Australia's engagement with Asia
OI.2 Interrelationships between humans and the diverse environments in Asia shape the region and have global implications.
OI.7 Australians play a significant role in social, cultural, political and economic developments in the Asia region.
General capability: Intercultural understanding
Students will be involved in learning about and engaging with diverse cultures in ways that recognise commonalities and differences, create connections with others and cultivate mutual respect.
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