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1. What factors must be considered when setting up a personal budget?
2. What are the advantages and disadvantages of using credit?
3. Describe the decision-making process used to make various purchases.
4. What is the difference between saving and in
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Student Learning Map
- Topic:Personal Finance
- Subject(s):Social Studies
- Days:10
- Grade(s):12
Key Learning:
Consumers are faced with many decisions regarding their finances.
Unit Essential Question(s):
Lesson Essential Question(s):What considerations should govern a consumer\'s decision making process? (ET)How can comparison shopping benefit the consumer? (ET)What rights and responsibilities do consumers have? (ET)Vocabulary:consumer, disposable income, discretionary income, competitive advertising, informative advertising, bait and switch, comparison shopping, warranty, brand name, generic brand, durability, closing costs, points, lease, security deposit, liability insurance, depreciation
Vocabulary:credit, principal, interest, installment debt, durable goods, mortgage, commercial bank, savings and loan association, credit union, finance company, charge account, credit card, finance charge, annual percentage rate, credit bureau, credit check, credit rating, collateral, secured loan, unsecured loan, usury law, bankruptcy
Vocabulary:saving interest passbook savings account statement savings account money market deposit account time deposits maturity certificates of deposit stockholders capital gain capital loss tax-exempt bonds savings bonds Treasury bills, notes, and bonds broker over-the-counter market mutual fund money market fund pension plans individual retirement account(IRA) diversification
Additional Info:
Textbook: Economics Today and Tomorrow, chapters 3,4,5,and 6 as well as related ancillary materials
Resources:
