SS.912.FL.6.1

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

This benchmark is part of these courses.
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

Alternate version of this benchmark for students with significant cognitive disabilities.
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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