Buying on Credit

Civics The American Economy Buying on Credit
Students learn the cost of buying on credit. Then they weigh the advantages and disadvantages of using credit. Finally they weigh the benefits versus the risk of taking a student loan to pay college tuition.

This learning experience is designed for device-enabled classrooms. The teacher guides the lesson, and students use embedded resources, social media skills, and critical thinking skills to actively participate. To get access to a free version of the complete lesson, sign up for an exploros account.

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Here are the teacher pack items for Buying on Credit:

Preview - Scene 1
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Overview

In this experience, students learn the cost of buying on credit. Then they weigh the advantages and disadvantages of using credit. Finally they weigh the benefits versus the risk of taking a student loan to pay college tuition.

Objectives

  • Define credit.
  • Analyze the benefits and costs of purchasing on credit.


Engage


You have probably seen someone make a purchase using a credit card instead of cash. It seems like magic—swipe the card and take the goods, no cash required. As if the credit card is a magic card filled with free money. In this lesson, you will learn that the bill always comes due on purchases made with credit.

Objectives

  • Define credit.
  • Analyze the benefits and costs of purchasing on credit.


a pile of credit cards

Imagine you work for a credit card company and you are responsible for writing a slogan to encourage people to sign up for your company’s card. Write a slogan promoting a credit card.


Sample answers: a swipe of magic, plastic paves the way, buy now pay later, a cardful of possibility


When everyone is ready to continue, unlock the next scene.

End of Preview
The Complete List of Learning Experiences in The American Economy Unit.
Civics The American Economy What Is a Market Economy?
What Is a Market Economy?
Civics The American Economy American Production
American Production
Civics The American Economy Economic Choices
Economic Choices
Civics The American Economy Living in a Global Economy
Living in a Global Economy
Civics The American Economy The Government and Income Inequality
The Government and Income Inequality
Civics The American Economy Consumers
Consumers
Civics The American Economy Distributing Goods
Distributing Goods
Civics The American Economy The American Economy: Unit Review
The American Economy: Unit Review
Civics The American Economy Capitalism and Free Enterprise
Capitalism and Free Enterprise
Civics The American Economy Government's Role in the U.S. Economy
Government's Role in the U.S. Economy
Civics The American Economy Labor and Management
Labor and Management
Civics The American Economy Buying on Credit
Buying on Credit
Civics The American Economy The Federal Budget: Taxes and Spending
The Federal Budget: Taxes and Spending
Civics The American Economy How Businesses Are Organized
How Businesses Are Organized
Civics The American Economy Entrepreneurs
Entrepreneurs
Civics The American Economy Budgeting Your Money
Budgeting Your Money
Civics The American Economy Banks and Banking
Banks and Banking
Civics The American Economy Supply and Demand in a Market Economy
Supply and Demand in a Market Economy
Civics The American Economy Saving and Investing
Saving and Investing
Civics The American Economy Measuring the Economy
Measuring the Economy
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