Consumers are faced with tough choices because so many innovative and exciting products and services are available. Therefore, engraining a decision-making process that includes considering of opportunity cost is necessary to shape future consumer behavior.
In this lesson students learn about banks and banking. The study the fractional reserve system, and the role the Fed plays in the money creation process.
"Will that be cash, check, debit, or credit?" This lesson plan explores the difference between these. What is the difference? Is using credit the same as paying with cash? Or by check? Or by debit card? Some young people believe that using credit is the same as paying with cash. In fact, some young people believe that all you need to make purchases is a credit card. It seems as if a credit card can pay for anything-and everything. But how you pay for things does make a difference. In this lesson, you will learn how using credit differs from paying in cash, by check, or by debit card. You will learn why credit has costs, and what the influences are that affect the cost of credit.
The following lessons come from the Council for Economic Education's library of publications. Clicking the publication title or image will take you to the Council for Economic Education Store for more detailed information.
Use this DVD program to show students how to live healthy, wealthy and risk-free.
8 out of 12 lessons from this publication relate to this EconEdLink lesson.
Focus: Understanding Economics in U.S. History uses a unique mystery-solving approach to teach U.S. economic history to your high school students.
5 out of 40 lessons from this publication relate to this EconEdLink lesson.
The teacher guide accompanies the student activities books in macro- and microeconomics for teaching college-level economics in AP Economics courses. The publication contains course outlines, unit plans, teaching instructions, and answers to the student activities and sample tests.
3 out of 58 lessons from this publication relate to this EconEdLink lesson.