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Economics PEEEL Paragraphs

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Economics PEEEL Paragraphs

Use PEEEL to build a clear economics paragraph: Point (your answer), Evidence (a fact, example or data), Explain (how the evidence supports your point), Evaluate (weigh costs and benefits), Link (connect to a wider economic idea). Use the information in each question. For open responses, the answer gives one possible approach; other well-supported arguments may also be correct.

Economic data and trends

Use the supplied figures as evidence where a question asks for data. They are practice figures, not current Australian statistics.

Measure

Before fuel rise

After fuel rise

Weekly fuel spending

$60

$78

Weekly café spending

$32

$24

1.A practice survey found that online orders made up 18% of a small retailer’s sales in 2021 and 31% in 2024. Write a PEEEL paragraph explaining one reason online shopping may have grown and one effect this trend could have on consumers or businesses. Include the terms consumer choice and opportunity cost.

2.According to the practice table, weekly fuel spending rose by $18 and café spending fell by $8. Write a PEEEL paragraph explaining how higher petrol prices might change household spending. Refer to both figures and explain why the pattern is not proof that fuel prices caused every change.

3.A local bakery sees more job advertisements in its area and a rise in applications for weekend work. Write a PEEEL paragraph explaining how employment information could guide its decision to hire an extra worker. Include labour market, costs and benefits, and business planning.

Business and entrepreneurship

Use examples to support your reasoning. You may reach different conclusions if your evidence and evaluation are clear.

4.Hamish plans to start a mobile bicycle-repair service. She could run it alone as a sole trader, or share ownership with a partner who contributes money and repair skills. Write a PEEEL paragraph arguing which structure may suit Hamish better. Compare at least one cost and one benefit of each.

5.A student entrepreneur designs reusable lunch wraps from washable fabric after noticing that classmates want alternatives to disposable packaging. Write a PEEEL paragraph explaining how innovation and taking a considered risk could benefit the business and the wider economy. Include a possible risk.

Economic decision-making

6.Dylan has $420 saved and is choosing between a $360 phone upgrade and keeping the money for a school holiday. Write a PEEEL paragraph explaining the opportunity cost of buying the phone and how Dylan could make a reasoned decision. Connect the choice to resource allocation.

7.A clothing business can switch to recycled fabric. The change would add $2 to the cost of each item, and a customer poll found that 6 out of 10 respondents would consider paying more for clothing made with recycled materials. Write a PEEEL paragraph arguing whether the business should make the change. Discuss market demand, resource scarcity, and a long-term benefit or drawback.

8.Which option is an example of a need rather than a want?

A safe place to live
A premium gaming headset
A second pair of designer sunglasses
A subscription to a new streaming service

9.Write a PEEEL paragraph explaining how separating needs from wants can help a teenager plan a weekly budget. Use one example of each and evaluate a benefit of prioritising needs.

10.Match each PEEEL letter to its purpose.