Micromeritics - Fundamental and Derived Properties of Powders
Needs, Wants, & Values - FeFe Revised
1. Needs, wants, & values. Consumer Ed. Miss Opland Grand Ledge High School
2. Objectives Identify the difference between a need and a want. Understand how personal financial decisions are influenced by a person’s interpretation of needs and wants. List factors which influence one’s personal values. Explain how values, needs, wants are all related and how they affect someone’s financial decisions.
3. NEED Something thought to be a necessity or an essential item required for life. Food Water Shelter Clothing
4. WANT Something unnecessary but desired, or items that increase the quality of living. Car DVD player iPod Bigger house Fashionable clothes
6. Key Points: different interpretations of wants and needs Ex: vehicle, may be classified as both Influence on a person’s financial decisions Ex: A person who deems a vehicle as a need will have larger expenses than a person who relies on a bicycle for transportation and sees a vehicle as a want.
17. Values AuctionObjectives: Budget for items on which you place significant value. Realize the different values held by classmates . Understand the relationship between an individual’s values and money. Reflect upon your own personal values.
18. VALUES AUCTION DIRECTIONS You will have $1,000.00 to work with. On the auction worksheet, pick the values that are most important to you. Allocate your $1,000 among the different items you value to indicate how much you value each item. You will put how much you are wiling to bid for each item. You must use all of your money and choose at least 3things to allocate money to. After you indicate you initial allocation, rank each item’s importance, with 1 being the most important, 2 being the next most important, and so on. You must set a goal to earn at least one of your items budgeted for during the auction. You can bid in increments of $100. You may not bid $1000 until the bidding has reached $900. You must record on the worksheet how much you bid on an item in the “Highest Amt. I Bid” column. You must record how much the item was sold for in the “Top Bid” column. Following the auction, rank your values again based on how much you actually bid.
19. Top 3 Valued By the Class… Record a tally mark on the next to your top 3 values (based on how you initially allocated your money). Complete the Values Auction Reflection, on the back of your worksheet.
