Buying and Services for Personal Satisfaction or Happiness. Different People- Different Spending Choices Making Choices You Can’t Giving Up One Thing for Another What is Opportunity Cost? Opportunity Cost: Weigh the SS.4.FL.2.4 Discuss that – Have Everything! Alternatives whenever people buy something, (Lesson Plan: What Pet Should I they an opportunity cost. Get? ) (Lesson Plan: Opportunity Cost (Lesson Plan Opportunity Choice: Opportunity cost is the value of ) Everyday Opportunities ) the next best alternative that is given up when a person makes a choice. Topic(s): Opportunity Cost: Choosing the Best Alternative Good Choice: But What is the Cost? (Lesson Plan Opportunity Cost: – Uncle Jed’s Barber Shop ) What does it Cost? Benefits of Spending Comparing and Benefits Consider the wider SS.4.FL.2.5 Explain that costs consequences of economic are things that a decision maker (Lesson Plan: Every Penny decisions gives up; benefits are things that Counts ) a decision maker gains. Make an Explore Economic informed decision by comparing the costs and benefits of spending alternatives. Alternate Choices Topic(s): Components of Informed Economic Decision Making Comparing and Benefits of Spending Alternatives Not Everything Costs the Same Different Goods or Services have How Price Affects Spending How Advertising Affects SS.4.FL.2.6 Predict how people’s Different Prices. Choices Spending Choices spending choices are influenced Costs More? by prices as well as many other Peer Pressure Spending (But factors, including advertising, the Mom, Everyone I Know Has One) spending choices of others, and peer pressure. Topic(s): Do Role Models Affect Spending Choices?
Buying and Services for Personal Satisfaction or Happiness. Different People- Different Spending Choices Making Choices – You Can’t Have Everything! Giving Up One Thing for Another (Lesson Plan: What Pet Should I Get? ) What is Opportunity Cost? (Lesson Plan: Opportunity Cost ) Opportunity Cost: Weigh the Alternatives (Lesson Plan Opportunity Choice: Everyday Opportunities ) SS.4.FL.2.4 Discuss that whenever people buy something, they an opportunity cost. Opportunity cost is the value of the next best alternative that is given up when a person makes a choice. Topic(s): Opportunity Cost: Choosing the Best Alternative Good Choice: But What is the Cost? (Lesson Plan – Opportunity Cost: Uncle Jed’s Barber Shop ) What does it Cost? Benefits of Spending Comparing and Benefits (Lesson Plan: Every Penny Counts ) Consider the wider consequences of economic decisions Explore Economic Alternate Choices SS.4.FL.2.5 Explain that costs are things that a decision maker gives up; benefits are things that a decision maker gains. Make an informed decision by comparing the costs and benefits of spending alternatives. Topic(s): Components of Informed Economic Decision Making Comparing and Benefits of Spending Alternatives Not Everything Costs the Same Costs More? Different Goods or Services have Different Prices. How Price Affects Spending Choices How Advertising Affects Spending Choices Peer Pressure Spending (But Mom, Everyone I Know Has One) SS.4.FL.2.6 Predict how people’s spending choices are influenced by prices as well as many other factors, including advertising, the spending choices of others, and peer pressure. Topic(s): Do Role Models Affect Spending Choices?
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