Friday, November 30, 2018

Grade 12: Economics, the Enterprise System, and Finance

“Economics, the Enterprise System, and Finance” examines the principles of the United States free market economy in a global context. Students will examine their individual responsibility for managing their personal finances. Students will analyze the role of supply and demand in determining the prices individuals and businesses face in the product and factor markets, and the global nature of these markets. Students will study changes to the workforce in the United States,

and the role of entrepreneurs in our economy, as well as the effects of globalization. Students will explore the challenges facing the United States free market economy in a global environment and various policy-making opportunities available to government to address these challenges.

12.E1 INDIVIDUAL RESPONSIBILITY AND THE ECONOMY: Individuals should set personal financial goals, recognize their income needs and debt obligations, and know how to utilize effective budgeting, borrowing, and investment strategies to maximize well-being.

12.E1a In making economic decisions in any role, individuals should consider the set of opportunities that they have, their resources (e.g., income and wealth), their preferences, and their ethics.

Plan of the Day

Rebel Pride, Starts inside!
Red Cross Blood Drive 12/13/18 (+/-)

We NEED people to run table sign-ups during lunches. Please see Mr. K!

Undefined Financial Literacy Terms

CONSIDER: Mr. Wonderful on how teens should manage money

"Liquidity is like a lever to use against the objections of the world to get what you want. Liquidity smooths out the problems of life."

-Brian Kovalchik

"Life is like a (poop) sandwich, the more money, education and rank you have, the smaller bites of it you have to take."

-Brian Kovalchik's first Navy Chief

Hard Asset: Anything, any possession or natural resource, that has an intrinsic value, which can be converted to cash (liquidity). Real estate, timber, agricultural products, vehicles, guitars, motorcycles, video games even, are all examples of hard assets. Because Hard Assets can be difficult to get rid of at a fair price, and there can be commissions and fees involved with converting a hard asset into liquidity, care must be taken to not overpay, when these items are purchased solely for investment purposes.

Semi-Liquid Asset: Any asset in an instrument with an assigned cash value, which can be converted into liquidity. Examples would be certificates of deposit, "junk" silver, gold coins, stocks, bonds, some insurance policies. There are often fees and commissions involved with converting these items to liquidity, lines of credit.

Liquid assets: cash, coins issued by the United States post-1964 (with limitations)

Asset Allocation is simply building wealth by collecting items from each category in a manner that builds wealth, but respects liquidity. Don't put yourself in a position of being "cash poor". At the same time, when your asset base really develops, keeping too much of your wealth in cash can hurt you through inflation. Buy low, sell high!

Question: How can getting yourself too far in debt, early in life, harm your ability to build an asset base for yourself?

ASSIGNMENT: Elevator Speech and Resume Resubmission

Career Moment: 



Why Develop an Elevator Speech?

SO.....Tell me about yourself.......

Budget Worksheet

RESUME SELF-HELP PAGE 

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US 11:

Assessment Exercise - How to answer Regents Questions.