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Welcome Knight Time!
Find
a seat with a
post-it note
It’s
DEAR DAY!!!
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Welcome C&E Students!
Find
your seat and settle in
 Turn
in your quiz to the class tray!
Roll
Call Question: What is one thing
you have learned from Unit 5?
Bell Work: Prepare for your unit 5 Test!
 You will place your belongings at either the front
or back of the room
 Please go ahead and sharpen your pencils
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Budget Project

Now that you know all about PFL, prove it!

Your next project will be creating a real-world budget.

You will complete this project in increments throughout the
remainder of the semester.

You will randomly draw your level of income and number of
dependents

Part 1 – 5 will be due a week from today. (4/29/15)

After your test you may begin working on this using the
chromebooks
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SHHH! Test in Progress!
 All
you need is a pencil
 Place
all belongings at the front or back of the
 Have
a question? Ask a question!
room
 When
finished….
Turn in your test to Ms. Peach
 Grab a Budget Project Handout and your
salary/dependents info
 You may use a chrome book if you wish.
 Personality Test – Google “Psych Central Personality Test”
and email yourself the results.
http://psychcentral.com/personality-test/start.php

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Welcome Knight Time!
Find
your color and sit with your
groups!
Purple: Sam, Hunter, T’ier
Red: Kenzie, Eli, Jaylen, Amari
Green: Destiny, Morgan, Hector
Blue: Ian, Jayda’h, Jake
Yellow: Elijah, Chris, Danielle, Tim
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Cupcake Wars

You and your teammates will complete the following Unit
5 review
 This should help you understand what you need to
study for Wednesday’s test.

The first team to complete the most questions correctly
will be awarded their favorite flavor of cupcake on
Wednesday plus an additional 2 points on the test!!!!
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Welcome Knight Time
Find
a seat at one of the front 3
desk clusters.
If
there is any topic you wish to go
over concerning Unit 5, please
tell me!!!!!!
Quiz
tomorrow
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Short answer Topics
Credit
Card v. Debit Card
Checking
Account Management
Insurance
Checking
Account
Account v. Savings
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Welcome C&E Students!

Grab your handouts and settle in

Roll Call Question: Would you rather live
in a giant shoe or a giant peach?

Bell Work:
 Explain
the difference between a
credit and debit card
 Why would a responsible
consumer use credit/credit
cards?
 Describe 3 methods of identity
theft we have discussed
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Reminders
Unit
Opportunity due date has
been pushed back to next
Monday
Unit
5 Test is this Wednesday!
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Warm Up – Bernie Madoff
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2. Pyramid Scheme
a. investment
where each paying
investor recruits two other investors.
The first investor makes money from
his recruits… they make money by
recruiting more
b. People
at the top make money from
people on the bottom
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c. Main
characteristic of a pyramid
scheme is that participants only make
money by recruiting more members.
How Do Pyramid Schemes Work?
Ponzi v. Pyramid
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3. Online Fraud
 a. Work
 Too
at Home Ads
good to be true
 b. Fake
charity organizations
 Natural
disasters are popular
“Be part of one of America’s Fastest Growing Industries.
Be the Boss!
Earn thousands of dollars a month from home”
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4. Malware – malicious software
a. It
includes viruses and spyware that
get installed on your computer,
phone, or mobile device without your
consent.
b. Can
be used for fraud
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Can You Spot Fraud?
You
and your group mates must read
scenarios and analyze images of
different type of fraud/identity theft
Your
job is to correctly identify the
type of fraud/identity theft
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5.5 Consumer Protection
Objective: Demonstrate how to be a
responsible consumer in the 21st century
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Warm – Up:
What
How
is a Consumer?
do we protect consumers?
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III. Consumer Protection & Rights
 A.
Consumer: someone who buys a product or
service
 B. Consumer
Protection: movement backed up by
laws and organizations designed to ensure the
rights of a consumer
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C. Rights of the Consumer
 You
have a right to…
 1. Safety: protection
from
goods/ services that are
hazardous to health
 2. Be
Informed: protection
from misleading information,
advertising or labeling
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 3. Choose: providing
a selection
of goods/services at fair prices
 4. Be
Heard: Provides you the
opportunity to be a voice in the
creation & development of
goods/services
 5. Redress: Request
money or
other benefits as compensation
for a company’s mistake
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IV. Consumer Protection Agencies

A. There are many federal agencies that help consumers file
complaints against businesses, be smarter shoppers and
understand credit

B. Better Business Bureau (BBB) – use this agency to learn
about a business and how they treat consumers

1. Sets standards for ethical business behaviors

2. Helps consumers identify trustworthy businesses and
those that aren’t

3. Evaluates advertisements to ensure we can trust what
companies say
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 C. Federal Trade
commission
(FTC) –designed to protect
consumers and promote competition
 1. Organizes
National Do Not Call
List –registering your name to be
removed from telemarketers call lists
 2. The
Fair Credit Reporting Act –
provides that you must be given a
copy of your credit report if
requested
 3. Prevents
anti-business practices
like monopolies (when a business
has complete control of a
good/service)
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Welcome Knight Time!
 You
have your Unit 5 Test Tomorrow! Are
you ready???
 Please
have questions regarding Unit 5
ready to go at the bell.
 Feel
free to eat your snacks and work on
assignments from other classes during the
first 5 minutes of Knight Time
 DEAR
DAY Tomorrow !!!!!
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Unit 5 Bingo
You
can get a bingo by marking 5
terms across, down or diagonally
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Welcome C&E Students
 Find
your seat and settle in
 Roll
Call Question: Would you rather live
without your phone or without
transportation?
 Bell Work:
Prepare for you Quiz!!!
 Managing Your
 Credit
v. Debit
 Insurance
Checking Account
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Shhh! Quiz in Progress!
All
you need is a pencil
Have
a question? Ask a question!
Turn
in completed quiz to your class
tray.
Start
working on your Good Deal or
Bad Deal? handout you picked up
yesterday.
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
D. Securities and Exchange Commission (SEC) –protects
investors who are purchasing stocks, bonds and other
financial assets

1. requires companies to provide consumer with reports of
how the co. is doing

2. Maintains a database EDGAR (Electronic Data Gathering,
Analysis and Retrieval system)that allows investors to see the
information the SEC collects
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V. How to Protect Yourself
A. Register
on Do Not Call List
B. Read
the Fine Print of any
offer/deal/ad
 Example: dietary
supplement
guidelines
C. Find Trusted
Companies through
the BBB and other sources
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D. For more information check out…
 1. North
American Securities
Administrative Association – protects
investors in the US, Canada and Mexico
 2. FBI
Common Fraud Schemes –
provides consumers with a list of fraudulent
businesses practices
 3. Internet
Crime Complaint Center –
where consumers submit complaints
regarding internet scams
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Good Deal or Bad Deal? & Read
the Fine Print
 With
you group you must examine several
advertisements
 Determine
whether the deal being offered
is a good one or not and explain.
 After
completing Good Deal or Bad Deal
move on to Read the Fine Print activity
 Select
the information that would help you
most as a consumer
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Trashketball
Unit 5
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5.1
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Question
This
is the study of how we seek
to satisfy needs and wants with
limited resources
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Answer
Economics
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Question
Explain
the difference between
needs and wants
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Answer
NeedsWants-
necessary for survival
desire not necessary for
survival
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Question
this is the driving force of
economics. It means we have
limited quantities of resources
and unlimited wants

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Answer
Scarcity
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Question
What
is consumer sovereignty
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Answer
Power
of consumers to decide
what gets produced
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Question
Give an example of immediate
gratification

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Answer

Ask Ms. Smith
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Question
What
are the 4 factors of
production?
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Answer
Land, labor, capital
entrepreneurship
and
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Question
What
is the difference between
white and blue-collar workers?
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Answer
White
Collar – high skilled office
worker
Blue
Collar – lower skilled/
manual labor
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Question
How
is physical capital different
from human capital?
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Answer
Physical
– buildings, tools,
machines
Human
– knowledge and skills
you gain through education and
experience
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Question
What
is a trade-off?
+
Answer
The
process of giving up one
desire in order to satisfy another
desire
+
Question
What
is an opportunity cost?
+
Answer
The
value of what you gave up in
the trade-off
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5.2 – Budget
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Question
What
is the connection between
education and income?
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Answer
The
more education the more
income
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Question
How
is net income different from
gross income?
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Answer
Gross
income – total amt of $ you
earn
Net
Income – the amt of $ you
have left after deductions
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Question
What
are two examples of pre-tax
deductions?
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Answer
Retirement
Life
Insurance
Social
Security
Medicare
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Question
What
is a mortgage?
+
Answer
The
monthly fee you pay to the
bank to own your home
+
Question
What
type of insurance is
required by state law?
+
Answer
Car
Insurance
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5.3 – Debit vs. Credit
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Question
What
is the difference between a
debit and credit card?
+
Answer
Debit – direct withdrawals from a
checking account

Credit
– borrowing money from a
lender and paying it back later
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Question
This
type of account allows you to
easily access/transfer/use your
money
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Answer
Checking
Account
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Question
What
are the two ways you can
use your money in a checking
account?
+
Answer
Debit
card
Check
+
Question
What
is the difference between
credits and debits to your
checking account?
+
Answer
Credits
Debits
- $ added to your account
- $ taken away from your
account
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Question
What
is interest in regards to a
savings account?
+
Answer
Earning
extra money for lending
your money to the bank
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Question
How
would APR (Annual
percentage rate) help you choose
a credit card?
+
Answer
It
shows you how much your
borrowing will cost you
+
Question
What
are two types of credit?
+
Answer
Credit
Card
Student
Loan
Mortgage
Car
Loan
+
Question
What
is interest in regard to a
loan or credit card?
+
Answer
The
money you owe the lender in
return for borrowing money
+
Question
What
is a credit score?
+
Answer
Number
assigned to a person that
lets the lender know your ability
to pay back a loan
+
Question
This
is the money you owe
someone
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Answer
Debt
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Question
What
card?
is a pro and con of a debit
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Answer
Ask
Ms. Smith
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Question
What
card?
is a pro and con of a credit
+
Answer
Ask
Ms. Smith
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54. Insurance
+
Question
This
is the contract specifying the
terms of the insurance
arrangement
+
Answer
Policy
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Question
What
is an insurance premium?
+
Answer
Annual/monthly
fee paid to the
insurer for you insurance policy
+
Question
What
type of insurance(s) would
you use a deductible?
+
Answer
Car/home/renters
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Question
This
is a percentage of your total
medical bill paid when you visit
the doctor’s office
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Answer
Co-pay
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5.5 Consumer Protection
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Question
This
is where someone tries to
acquire the identity of someone
by asking for sensitive
information over the phone or
online
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Answer
Phishing
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Question
If
you see something strange on
an ATM machine someone might
be attempting this type of fraud
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Answer
Skimming
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Question
What
are the two type of credit
card fraud?
+
Answer
Account
takeovers
Application
fraud
+
Question
What
is a Ponzi Scheme?
+
Answer
Where
someone is trying to
convince others to invest in a fake
company for great returns
+
Question
What
is malware?
+
Answer
Malicious
software – includes
viruses and spyware that get
installed on digital devices
+
Question
What
is a pyramid scheme?
+
Answer
Investment
where each paying
investor recruits 2 others
investors. The first investor makes
money from his recruits… they
make money by recruiting others
+
Question
What
is consumer protection?
+
Answer
Movement
backed up by laws
and originations designed to
ensure the rights of a consumer
+
Question
What
are 2 rights of the
consumer?
+
Answer
Safety
Be
Informed
Choose
Be
Heard
Redress
+
Question
 You
would use this agency to
learn about a business and how
they trust consumers
+
Answer
BBB
– Better Business Bureau
+
Question
What
is the purpose of the
National Do Not Call Registry
+
Answer
Register
your name to be
removed from telemarketers call
lists
+
Password
+
Password

Mortgage
Premium
Malware
Immediate
gratification
+
Password

Debit Card
Trade-Off
Want
Co-pay
+
Password

Phishing
Scarcity

Opportunity cost
Credits
+
Password

Credit Card
Gross
Income
Need
Immediate
gratification
+
Password

Economics
Deductible
Net
Income
Trade-off
+
Password

consumer sovereignty
Pyramid
Pre-tax
scheme
deductions
Skimming