File - Economics & Personal Finance
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Unit 2: Credit and Debt
Examine the charts, graphics, and reading
excerpts in Chapter 6: Consumer Awareness.
o Make a list of questions you would like to have
answered as we go through the chapter.
WB: Before You Begin, pgs. 128-129
o Review the Learning Outcome objectives and Key
Terms
o Complete the “Before” column on the “Measure Your
Progress” chart
Journal:
1.
How does advertising affect your buying decisions?
Section 1
Video 1.1 (7 minutes): The Most Marketed-to
Culture in History
Journal:
1.
Why is it important for consumers to be aware of
marketing tactics?
Explain why our culture is so heavily marketed to.
o Our free market economy is driven by consumer
demand.
o Marketing is a strategy used by businesses to promote
consumer demand, thereby increasing their profits.
Summarize Dave’s message about having fun
with money.
o Dave says you’ve got to sacrifice and live like no one else
so that later, you can live like no one else!
Activity: Commercial Viewer
Video 1.2 (10 minutes): Four common marketing
tactics
Journal:
1. What are some of your favorite brands (soft
drinks, clothing, etc.)? Why do you like them?
What are some ways that companies compete for
your money?
o Personal selling, offer easy financing, repetition,
product positioning.
Besides marketing, what are some other factors
that influence your purchasing decisions?
o Peers
o Availability of money
o Parental influence
o Etc.
Activity:
o Marketing Madness (20 minutes)
Video 1.3 (10 minutes): Four common marketing
tactics
Journal:
1.
Describe one way advertising has played a role in
something you’ve purchased.
Activity:
o 0% for 24 months, Nothing Down (20 minutes)
Video 1.4 (9 minutes): Types of Product
Positioning
Journal:
1.
Have you ever bought something you thought would
make you happy, but in the end it didn’t?
Section 2
Video 2.1 (9 minutes): Significant Purchases
Journal:
1.
Can you think of anything in your home that was
bought but never or rarely used?
What constitutes a significant purchase?
o Normally, anything over $300, but may vary based on
one’s financial circumstances.
Give an example of immature spending behavior.
What’s the correct way to pay for large
purchases?
o Save up and pay cash!
Activity:
o The Cost of Cool (25 minutes)
o The Impact of Daily Decisions (25 minutes)
Section 3
Video 3.1 (14 minutes): Develop Power Over
Purchase
Journal:
1.
Explain why it is important to develop power over
purchase.
Why is it important to develop power over
purchase?
o Because it’s easy to spend more than you make.
o Regardless of how much money you make, if you have a
spending plan and power over purchase, you can win
with money.
When considering your buying motives, you
should be sure that you are not confusing
happiness with fun. Explain what Dave means by
this.
o You can buy fun (vacation or gifts), but you cannot buy
happiness. Contentment only comes from within.
Activity: Opportunity Cost (20 minutes)
Budget Builder – foundationsU.com/6
Take Action Challenge, pg. 139
Study Guide: Money in Review, pgs. 140-141
Complete the “After” column on the “Measure
Your Progress” chart, pg. 129.