"Economic Cinema"

John Q

SSEPF1 The student will apply rational decision making to personal spending and saving choices.

a. Explain that people respond to positive and negative incentives in predictable ways.

b. Use a rational decision making model to select one option over another.

c. Create a savings or financial investment plan for a future goal.

SSEPF1: Reasoning

John Q had to make a rational decision on to whether or not to pay his wife's car payment or pay the house payment for a certain month. Hen he made his decision his wife lost the car and that was a consequence for his decisions.

SSEPF5 The student will describe how insurance and other risk-management strategies protect against financial loss.

a. List various types of insurance such as automobile, health, life, disability, and property.

b. Explain the costs and benefits associated with different types of insurance; include deductibles, premiums, shared liability, and asset protection

SSEPF5: Reasoning

John did not review his insurance policy frequently to make sure everything was the same from when he first started work from when they cut his hours to a part- time worker. When John Q's son as admitted into the hospital that was when it was too late because they did not have enough insurance to cover their son's medical costs.

SSEPF6 The student will describe how the earnings of workers are determined in the marketplace.

a. Identify skills that are required to be successful in the workplace.

b. Explain the significance of investment in education, training, and skill development.

SSEPF6: Reasoning

When invest in your education you can increase income with different job positions. When there are different positions and higher income you can increase your benefits including insurance with your job.

Themes

  • Scarcity

The medical attention needed for patients are limited.

  • Incentives

The doctors need a specific thing to actually want to do their job correctly.