Chapter 1 How Your Choices Affect Income What
- Slides: 6
Chapter 1 How Your Choices Affect Income
What Is the Economy? • The economy refers to all the activities related to making and distributing goods and services. • A market economy is based on the law of supply and demand. o The price for an item is set at a point that consumers are willing to pay and sellers are willing to accept. 1 -2 The Economy and Your Education Slide 2
The Business Cycle 1 -2 The Economy and Your Education Slide 3
What are the Costs of Education? • Tuition is the expense paid by students for instruction at a school. • Fees are charged to cover special expenses. o Examples: technology, equipment, supplies • Living expenses include food, rent, clothing, transportation, and housing. 1 -2 The Economy and Your Education Slide 4
How Will You Pay for Education and Training? • Loans and grants o Examples: financial aid, Pell Grants, subsidized student loan • • Private student loans Scholarships Work-study programs Work and save 1 -2 The Economy and Your Education Slide 5
Focus On. . . Student Organizations • Explore careers of interest. • Attend conferences. • Apply for scholarships, grants, financial aid. • Take part in community service activities. • Network and form friendships. 1 -2 The Economy and Your Education Slide 6
