Buying Goods and Services
People cannot buy or make all the goods and services they want; as a result, people choose to buy some goods and services and not buy others. People can improve their economic well-being by making informed spending decisions, which entails collecting information, planning, and budgeting.
Related Lessons on Virtual Economics 4.0
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Managing Your Money (Financial Fitness for Life: Theme 3, Lesson 8);
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What’s the Cost of Spending and Saving? (Financial Fitness for Life: Theme 5, Lesson 20)
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Creating and Using a Budget (Capstone, Unit 3: Lesson 17)
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Financial Institutions (Capstone, Section 2)
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The Mathematics of Credit Card Interest and Fixed Payments (Mathematics and
Economics, Lesson 15) -
Cash Flow and the Successful Entrepreneur (Entrepreneurship in the U.S. Economy, Lesson 22)
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Banking Basics (Financial Fitness for Life: Theme 3, Lesson 9)
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How to Really be a Millionaire (Financial Fitness for Life: Theme 1, Lesson 1)
Free Lessons Online
- How is Our Economy Doing? (econedlink)
- U.S. Senate Rejects Minimum Wage Bill (econedlink)
- Specialization and the Decathlon (econedlink)
- Should LeBron James Mow His Own Lawn? (econedlink)
- Opportunity Cost (econedlink)
- Buying vs. Renting (econedlink)
- Spending Plans (Yes You Can)
- Payment Methods (Yes You Can)
- Spending Smart (Hands on Banking)
Videos
- Money Management/Budgeting (Virtual Economics)
- Wallet Wars (Generation Money Videos)
- Budget Builder (NEFE)
- Fees, Fees, and More Fees (St. Louis Fed)
- Inflation Overview (Practical Money Skills and Khan Academy)
Online Interactives
- Personal Finance 101 – Chat — How to Open a Bank Account (St. Louis Fed)
- Personal Finance 101 – Chat — All About Debit Cards (St. Louis Fed)
- Personal Finance 101 – Chat — Rent to Own (St. Louis Fed)
- Personal Finance 101 – Chat — Buy Here Pay Here (St. Louis Fed)
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