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Grade 6-8, 9-12
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On-Demand Webinar

Financial Fitness for Life, Chapter 3: Decision Making

Time: 60 mins,
Presenter: Lynne Stover
Teacher Version
Objective Standards Summary Description Resources
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Objective

Teachers will be able to:

  • Show how scarcity affects economic choices.
  • Demonstrate a five-step decision-making process.
  • Model using a decision-making grid to make informed choices.

Standards

State Standards

Concepts

Decision Making 1, Externalities 3, Opportunity Cost 1, Opportunity Cost 2, PPC 1, PPC 2, Scarcity 1, Scarcity 2, Scarcity 3, Scarcity 4, Wants and Needs 1

This video is available to view for EconEdLink members only.

In this economics webinar, use models and basic concepts to help students understand the importance of making informed decisions.

Description

An overview of Chapter 3: Decision Making.

This session features a five-step decision-making model which focuses on the identification of problems, alternative for solving them, criteria for evaluating all possibilities, and the opportunity cost of finalizing a choice. It also uses a decision-making grid and integrates basic economic concepts.

We will apply to real life examples, such as choosing a college, making big purchases and decisions students may need to consider during a pandemic.

Resources

Subjects:
Economics,Personal Finance

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