Lesson Details

Unit 3: Lesson 18 - Credit Management

This lesson is designed to help students make good consumer-credit decisions. Although using credit is beneficial at times, it often carries higher costs than many people realize. This lesson discusses the costs of credit in a manner that helps students calculate those costs and integrate them in short- and long-term decisions.

Concepts:

  • Choice
  • Debt
  • Economic Wants
  • Income
  • Interest
  • Secured Debt
  • Unsecured Debt
Standards:
  • Standard #2: Decision Making
  • Standard #4: Incentives
  • Standard #8: Role of Prices
  • Standard #11: Money and Inflation

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