EconEdLink - Graphing and Interpreting Linear Relationships in the Context of Budgeting

Graphing and Interpreting Linear Relationships in the Context of Budgeting

Time: 60 mins,

Updated: March 24 2021,

Author: Signe Kastberg

Students will be able to:

Create a graph representing a budget line and calculate the trade-offs of moving along the line.
Represent a budget line using an equation in two variables.
Predict transformations of the budget line given changes in income, changes in price of a good, or both.
Calculate an equation for a budget line.
Explain the meaning of the budget line in terms of personal finance.

In this personal finance lesson, students explore budget constraints by solving a contextual problem.

Click NEARPOD VERSION: USING LINEAR FUNCTIONS TO UNDERSTAND BUDGETING to access an interactive version of the lesson powered by Nearpod: students interact and respond to questions on their device, and teachers will see their responses in real time!

Subjects:

Economics,Personal Finance

Graphing and Interpreting Linear Relationships in the Context of Budgeting