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Ch 55: MTEL Business: Consumer Economics & Personal Finance

About This Chapter

Review various aspects of consumer economics and personal finance when you go through each of this chapter's text and video lessons. Use them to prepare for the MTEL Business examination for teacher certification. The lessons can be accessed online.

MTEL Business: Consumer Economics and Personal Finance - Chapter Summary

With lessons that will strengthen your comprehension of stocks and bonds, this chapter could also expand your understanding of terms such as defined-benefit plans, securities markets, and defined-contribution plans. While you get ready for the MTEL Business examination's questions on consumer economics and personal finance, you could learn more about the principle of indemnity and the law of large numbers. Utilize this chapter so that you can subsequently:

  • Define consumer income
  • Explain the cost of living and outline some common expenses
  • Develop a household budget
  • Understand insurance as a form of risk management
  • Describe the rules governing Roth IRA investment accounts and 401(k) plans
  • Explore consumer credit
  • Discuss forms of personal bankruptcy
  • Identify different kinds of personal taxes

Designed to give you some of the facts you'll need to pass the MTEL Business examination, this chapter's lessons are delivered by expert instructors. You could theoretically study 24/7, since the narrated, animated video lessons are available online and are as close as your mobile device. If you'd prefer to study by reading, you can check out text transcripts that contain the same information as the videos. There's also the option of printing out the worksheets and short quiz answers and referring to them periodically during the day.

MTEL Business: Consumer Economics and Personal Finance - Chapter Objectives

Previous education and your careful study of this chapter should provide you with the extensive knowledge required to successfully answer 100 multiple-choice questions and two open-response assignments on the MTEL Business examination. These questions span seven subareas of the computer-administered examination, which has a four-hour time for completion. Consisting of two sections, Subarea VI - Career Development and Personal Finance will test your grasp of consumer economics and personal finance. Prove what you understand about personal investments, retirement accounts, savings and credit during this section as you pursue teaching licensure. Subarea VI accounts for 10% of the examination, and it has between 11 and 13 multiple-choice questions.

10 Lessons in Chapter 55: MTEL Business: Consumer Economics & Personal Finance
Test your knowledge with a 30-question chapter practice test
Consumer Income: Definition & Statistics

1. Consumer Income: Definition & Statistics

Consumer income is crucial for the functioning of our consumer-based economy. In this lesson, you'll learn what consumer income is, examine some related concepts, and see some relevant statistics.

What is Cost of Living? - Expenses & Overview

2. What is Cost of Living? - Expenses & Overview

Most everyone would like a COLA, and we're not talking about soft drinks. In this lesson, you'll learn what cost of living is and some of its key concepts. You'll also have a chance to take a short quiz.

Household Budgets & Personal Financial Management

3. Household Budgets & Personal Financial Management

In this lesson, we'll explain and define the components of a budget: income, expenses, and discretionary income. You'll also learn how to categorize income and expenses as fixed or variable.

Understanding Insurance Policies and Risk Management

4. Understanding Insurance Policies and Risk Management

Obtaining insurance is one of the most common methods of risk management. In this lesson, you'll learn about insurance policies and some key concepts related to insurance. You'll also have a chance to take a short quiz.

Investment Opportunities in Stocks and Bonds

5. Investment Opportunities in Stocks and Bonds

Investors often turn to the stock and bond markets when investing their money. Each market offers opportunities and risks for the individual investor. In this lesson, we'll explore the nature of these investments.

What Is a Roth IRA? - Definition, Rules & Benefits

6. What Is a Roth IRA? - Definition, Rules & Benefits

Explore the concept of a Roth IRA - an account that can potentially lead to tax-free growth. This lesson will define a Roth IRA and explain the associated rules and benefits.

Understanding Retirement and Pension Plans

7. Understanding Retirement and Pension Plans

Businesses use many different types of retirement plans for their employees. Two of the most common are pension plans and 401(k) plans. This lesson discusses these two kinds of retirement plans.

Consumer Credit: Types & Differences

8. Consumer Credit: Types & Differences

In this lesson, we'll discuss creditworthiness and different types of consumer credit: installment, non-installment, and revolving credit. You'll also learn about repayment requirements for each and if there's a cost to borrowing the money.

Personal Bankruptcy: Law & Types

9. Personal Bankruptcy: Law & Types

There are several different types of bankruptcy, but only two are designed for individuals. This lesson explains these two types: Chapter 7 and Chapter 13 bankruptcy.

Purpose & Types of Personal Taxes

10. Purpose & Types of Personal Taxes

In this lesson, you'll learn about five types of personal taxes: sales, payroll, income, capital gains, and property tax. We'll discuss the uses of each tax and provide examples.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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Other Chapters

Other chapters within the MTEL Business (19): Practice & Study Guide course

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