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Standard 2.1

Standard 2.1. General Financial Literacy. Revised: Shelley Bracken, 2011. Standard 2 Students will understand sources of income and the relationship between income and career preparation. Objective 1 Identify various forms of income and analyze factors that affect income.

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Standard 2.1

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  1. Standard 2.1 General Financial Literacy Revised: Shelley Bracken, 2011

  2. Standard 2Students will understand sources of income and the relationship between income and career preparation. • Objective 1 • Identify various forms of income and analyze factors that affect income.

  3. Various Sources of Income

  4. Common Employee Benefits • Employee Benefits • The benefits offered and paid in part by employers • Vacation • Sick leave • Health plan • Retirement plan • Tuition reimbursement

  5. How Can These Economic Conditions Affect Income? • Oil in Eastern Utah • Micron in Utah County • St. George floods • Hurricane Katrina/gas prices • Stock market • Interest rates • Iraqi war/Tapes of Bin Laden • Tornado in SLC • Hill Air Force Base shut down • Inflated housing in Washington County

  6. Assessment IdeaStandard 2 Objective 1 • Choose three economic conditions discussed and write a paragraph on who it effects, if those effects are short term or long term, and what the effects are

  7. Activity • Trish & Scott’s Big Adventure Students can explore differences in regional housing costs, determine the percentage of gross income spent on housing, assess the impact of housing costs on a relocation decision and recognize wages and housing costs are prices.

  8. Cost of Living Calculator Using a cost of living calculator, such as this one, research a city of your choice to find the average per capita income, cost of living, state tax, etc.

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