Analyze how judgment regarding risky events is subject to errors because people tend to overestimate the probability of infrequent events, often because they’ve heard of or seen a recent example.
Remarks
Discuss how an extended warranty on a consumer product is like insurance. Evaluate the cost-effectiveness of extended warranties on three consumer products: a new automobile, a smart phone, and a dishwasher, considering the likelihood that the product will fail, the cost of replacing the item, and the price of the warranty.
Subject Area: Social Studies
Grade: 912
Strand: Financial Literacy (Discontinued after 2023-2024)
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, 2022 and beyond (current)) |
| 2102335: | Economics with Financial Literacy (Specifically in versions: 2014 - 2015, 2015 - 2018, 2018 - 2022, 2022 - 2024 (course terminated)) |
| 2102340: | Economics with Financial Literacy for Credit Recovery (Specifically in versions: 2015 - 2018, 2018 - 2022, 2022 and beyond (current)) |
| 2102345: | Economics with Financial Literacy Honors (Specifically in versions: 2014 - 2015, 2015 - 2018, 2018 - 2022, 2022 - 2024 (course terminated)) |
| 7921022: | Access Economics with Financial Literacy (Specifically in versions: 2014 - 2015, 2015 - 2018, 2018 - 2023, 2023 and beyond (current)) |
| 2102372: | Personal Financial Literacy (Specifically in versions: 2015 - 2018, 2018 - 2019, 2019 - 2022, 2022 and beyond (current)) |
| 2102374: | Personal Financial Literacy Honors (Specifically in versions: 2015 - 2018, 2018 - 2019, 2019 - 2022, 2022 and beyond (current)) |
| 7921021: | Access Personal Financial Literacy (Specifically in versions: 2019 - 2023, 2023 and beyond (current)) |
Related Access Points
| Access Point Number |
Access Point Title |
| SS.912.FL.6.AP.2 | Discuss how judgment regarding risky events is often influenced by information from others. |
