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EntreComp2016

Code: 2.4.1

Understand economic and financial concepts.

Descriptors

1 · Discover

What you learn at this level

  • I can recall basic terminology and symbols related to money.

2 · Explore

What you learn at this level

  • I can explain simple economic concepts (for example, supply and demand, market price, trade).

3 · Experiment

What you learn at this level

  • I can use the concept of opportunity costs and comparative advantage to explain why exchanges happen between individuals, regions and nations.

4 · Dare

What you learn at this level

  • I can read income statements and balance sheets.

5 · Improve

What you learn at this level

  • I can explain the difference between a balance sheet and a profit-and-loss account.

6 · Reinforce

What you learn at this level

  • I can build financial indicators (for example, return on investment).

7 · Expand

What you learn at this level

  • I can use financial indicators to assess the financial health of a value-creating activity.

8 · Transform

What you learn at this level

  • I can use financial indicators to compare the financial health of my value-creating activity with that of competitors