In a simulation activity, the students set a goal and save money to achieve that goal. They discuss the costs and benefits of saving by completing a decision grid. Using a magic mirror, they gaze into the future and imagine things they will want to have when they are adults. They learn that people must plan for future wants.
Concepts
- Opportunity Cost
- Costs
- Saving
- Wants
- Savings
- Money
- Cost
Standards in Economics and Personal Finance
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