In this unit...
Students will understand that...
Managing financial resources effectively can influence financial security.
Wants and needs can be met through appropriate earning, saving, and investment strategies.
Students will keep considering the following questions
How can you use your money wisely?
How do you decide if this is something that you want or that you need?
Students will know:
the amount a person earns may depend on the amount of time spent working and the skills, education, and experience needed to do the job.
skill, experience, and training make up human capital.
purchases can be made using cash or credit.
reasons for saving, spending, borrowing, and donating money.
the cost of an item can be related to its availability.
the cost of an item can be affected by interest.
Students will be skilled at:
identifying and calculating the cost of planned and unplanned spending.
comparing the cost of an item when purchased on credit versus paying with cash.
determining the amount of time it will take to save for an item.
listing the reasons for saving money and explain the benefits.
making decisions about how to use their money.
applying the mathematical process standards.
Vocabulary:
human capital
labor
availability
scarcity
credit
borrower
lender
interest
Vocabulary:
Topic 16 Test will be on May 16th.
Extra Practice: