Standard #: SS.912.FL.6.1


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Describe how individuals vary with respect to their willingness to accept risk and why most people are willing to pay a small cost now if it means they can avoid a possible larger loss later.


Clarifications


Discuss whether or not a premium paid to insure against an accident that never happens is wasted.

General Information

Subject Area: Social Studies
Grade: 912
Strand: Financial Literacy
Date Adopted or Revised: 04/15
Status: State Board Approved

Related Courses

Course Number1111 Course Title222
2102800: Florida’s Preinternational Baccalaureate Comparative Economics With Financial Literacy (Specifically in versions: 2014 - 2015, 2015 - 2022 (current), 2022 and beyond)
2102335: Economics with Financial Literacy (Specifically in versions: 2014 - 2015, 2015 - 2018, 2018 - 2022 (current), 2022 and beyond)
2102340: Economics with Financial Literacy for Credit Recovery (Specifically in versions: 2015 - 2018, 2018 - 2022 (current), 2022 and beyond)
2102345: Economics with Financial Literacy Honors (Specifically in versions: 2014 - 2015, 2015 - 2018, 2018 - 2022 (current), 2022 and beyond)
2102372: Personal Financial Literacy (Specifically in versions: 2015 - 2018, 2018 - 2019, 2019 - 2022 (current), 2022 and beyond)
2102374: Personal Financial Literacy Honors (Specifically in versions: 2015 - 2018, 2018 - 2019, 2019 - 2022 (current), 2022 and beyond)
7921021: Access Personal Financial Literacy (Specifically in versions: 2019 and beyond (current))


Related Access Points

Access Point Number Access Point Title
SS.912.FL.6.In.a Discuss how individuals vary with respect to their willingness to accept risk and why most people are willing to pay a small cost now if it means they can avoid a possible larger loss later.
SS.912.FL.6.Su.a Identify why most people are willing to pay a small cost now if it means they can avoid a possible larger loss later.
SS.912.FL.6.Pa.a Recognize that paying a small cost now can avoid a possible larger loss later.


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