Explain that costs are things that a decision maker gives up; benefits are things that a decision maker gains. Make an informed decision by comparing the costs and benefits of spending alternatives.
Compare the costs and benefits of buying a bicycle in two settings, rural and urban, and for different people including a younger child, a teenager, and a grandparent.
Subject Area: Social Studies
Strand: Financial Literacy
Date Adopted or Revised: 06/14
Status: State Board Approved