whenever people example of a and Services Studies Literacy buy something, buying choice a they incur an person made and opportunity cost. identify the Opportunity cost opportunity cost is the value of of that choice. the next best alternative that is given up when a person makes a choice. SS.4.FL.2.5 Explain that Compare the costs Buying Goods Social 4 Financial costs are things and benefits of and Services Studies Literacy that a decision buying a bicycle maker gives up; in two settings, benefits are rural and urban, things that a and for different decision maker people including a gains. Make an younger child, a informed teenager, and a decision by grandparent. comparing the costs and benefits of spending alternatives. SS.4.FL.2.6 Predict how Write stories Buying Goods Social 4 Financial about how and Services Studies Literacy people’s spending choices individual are influenced by spending choices prices as well as were informed or many other influenced by factors, including advertising, the advertising, the spending choices spending choices of others, peer of others, and pressure, or the peer pressure. prices of alternative choices. Explain why shopping with a list can help consumers with their spending
whenever people buy something, they incur an opportunity cost. Opportunity cost is the value of the next best alternative that is given up when a person makes a choice. example of a buying choice a person made and identify the opportunity cost of that choice. and Services Studies Literacy 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. Compare the costs and benefits of buying a bicycle in two settings, rural and urban, and for different people including a younger child, a teenager, and a grandparent. Buying Goods and Services Social Studies 4 Financial Literacy 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. Write stories about how individual spending choices were informed or influenced by advertising, the spending choices of others, peer pressure, or the prices of alternative choices. Explain why shopping with a list can help consumers with their spending Buying Goods and Services Social Studies 4 Financial Literacy
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