# CTE Resource Center - Verso - Economics and Personal Finance Task 1609377857

CTE Resource Center - Verso

Virginia’s CTE Resource Center

Describe the role of consumer assistance agencies.

Definition

Description should include
  • examples of government agencies responsible for enforcing consumer protection laws
  • examples of private groups that work for consumer protection.

Related Standards of Learning

History and Social Science

GOVT.1

The student will demonstrate skills for historical thinking, geographical analysis, economic decision making, and responsible citizenship by

  1. planning inquiries by synthesizing information from diverse primary and secondary sources;
  2. analyzing how political and economic trends influence public policy, using demographic information and other data sources;
  3. comparing and contrasting historical, cultural, economic, and political perspectives;
  4. evaluating critically the quality, accuracy, and validity of information to determine misconceptions, fact and opinion, and bias;
  5. constructing informed, analytic arguments using evidence from multiple sources to introduce and support substantive and significant claims;
  6. explaining how cause-and-effect relationships impact political and economic events;
  7. taking knowledgeable, constructive action, individually and collaboratively, to address school, community, local, state, national, and global issues;
  8. using a decision-making model to analyze the costs and benefits of a specific choice, considering incentives and possible consequences;
  9. applying civic virtues and democratic principles to make collaborative decisions; and
  10. communicating conclusions orally and in writing to a wide range of audiences, using evidence from multiple sources and citing specific sources.

GOVT.9

The student will apply social science skills to understand the process by which public policy is made by

  1. defining public policy and determining how to differentiate public and private action;
  2. examining different perspectives on the role of government;
  3. describing how the national government influences the public agenda and shapes public policy by examining examples such as the Equal Rights Amendment, the Americans with Disabilities Act (ADA), and Section 9524 of the Elementary and Secondary Education Act (ESEA) of 1965;
  4. describing how the state and local governments influence the public agenda and shape public policy;
  5. investigating and evaluating the process by which policy is implemented by the bureaucracy at each level;
  6. analyzing how the incentives of individuals, interest groups, and the media influence public policy; and
  7. devising a course of action to address local and/or state issues.

GOVT.15

The student will apply social science skills to understand the role of government in the Virginia and United States economies by

  1. describing the provision of government goods and services that are not readily produced by the market;
  2. describing government’s establishment and maintenance of the rules and institutions in which markets operate, including the establishment and enforcement of property rights, contracts, consumer rights, labor-management relations, environmental protection, and competition in the marketplace;
  3. investigating and describing the types and purposes of taxation that are used by local, state, and federal governments to pay for services provided by the government;
  4. analyzing how Congress can use fiscal policy to stabilize the economy;
  5. describing the effects of the Federal Reserve’s monetary policy on price stability, employment, and the economy; and
  6. evaluating the trade-offs in government decisions.

Other Related Standards

Economics and Personal Finance Standards of Learning

EPF.10

The student will develop consumer skills by
  1. examining basic economic concepts and their relation to product prices and consumer spending;
  2. examining the effect of supply and demand on wages and prices;
  3. describing the steps in making a purchase decision, including the roles of marginal benefit and marginal cost;
  4. determining the consequences of conspicuous consumption;
  5. describing common types of contracts and the implications of each;
  6. demonstrating comparison-shopping skills;
  7. maintaining a filing system for personal financial records;
  8. examining the impact of advertising and marketing on consumer demand and decision making in the global marketplace;
  9. accessing reliable financial information from a variety of sources;
  10. explaining consumer rights, responsibilities, remedies, and the importance of consumer vigilance; and
  11. examining precautions for protecting identity and other personal information.

FBLA Competitive Events and Activities Areas

Business Law

 

Client Service

The topic for this event changes from year to year. The annual topic may or may not correlate with this particular course. Please refer to the current Virginia FBLA State Handbook.

Economics

 

Entrepreneurship

The topic for this event changes from year to year. The annual topic may or may not correlate with this particular course. Please refer to the current Virginia FBLA State Handbook.

Help Desk

 

Introduction to Business

 

Personal Finance