Introduction to Financial

Literacy
Comparing Prices Task
LEARNING OBJECTIVE: Students will compare the prices of different items/services to
determine the best value for money, taking into account various factors in their decision
making process.
 MATHSWATCH CLIP
Exchanging money
OPENER ACTIVITY TO FINANCIAL
105LITERACY!!
GRADE
3
What are some things that you and your family spent
the most money on this holiday?
- Food
Does this price change
- Trip/activity
- Service/program depending on where you are
- Toys/Gifts/Products in the world? What brand or
- Electricity/Gas
company you get it from?
- ???
 MATHSWATCH CLIP
Exchanging money
LET’S DIG DEEPER INTO THE 105 ISSUE…
GRADE
3
Choose something that you or your family spent money on this winter break/school year:
- What is the item/product AND a service/activity you choose? (No repeats please!
Should be individualized to you/your family)
- Where might prices differ? Ensure it is as close to the same as it can be
- E.g. Same bbt flavour/size/toppings but from different stores; same rental items, divide lessons by minute to get unit rate, etc.
- Find out the different ranges in price (Find 3-6 different comparisons)
- Order from cheapest to most expensive
- Is there a notable difference between product/service(s) received that might account
for price differentials? If yes/no, identify and (or) justify the reasons for it.
- Who pockets the difference/profits?
- What might this activity tell you about the value of money on a smaller/larger/global
scale? Be prepared to share your findings at the end of the week! (~5min +/- 1min)
- Find a creative and organized way to showcase your work!
 Don’t forget to cite your
HOW TO PUT IT ALL TOGETHER! sources!

Now that you have compiled all your information… find a visually appealing and
creative way to showcase your work. Ms. Tsoy should be able to put this work up
around the classroom - printable/hand made. You are a travelling salesperson.
Your job is to convince your audience to purchase your item OR your service.
Choose ONE! Submit your analysis for both though

Identify your personal link to the item/service - why did you choose it? Using your
price analysis and persuasive skills, reveal the BEST choice. Will it be because it is
the best value… price… reviewed… quality… brand? Are there any
similarities/differences to account for the price differences? Discuss these
factors. Be sure to justify your choices with specific support/example from your
research!

What does this activity tell you about the value of money on a smaller/larger
scale?
 CRITERIA LEVEL 4 LEVEL 3 LEVEL 2 LEVEL 1

K&U Collects comprehensive Collects relevant and Collects some relevant data Collects minimal/incomplete
Research & data about prices and accurate data from many but with gaps; may not have data about prices and features;
features from a variety of places enough data to do a good may not have enough data to do
Data
places comparison a good comparison
Collection

Understand Excellent understanding; Good understanding; Basic understanding; Limited understanding; misses
Value considers all the factors considers a few factors considers a couple factors key points

Mathematical Accurate; enhances clarity Accurate; clear solution and Some errors which partially Many errors, affects conclusion;
Calculations and reliability of conclusion; shows work affects conclusion; some may be missing showing of work
conclusion; shows work work

T, C, & A Thorough comparison and Clear comparison and Basic comparison with Minimal comparison with limited
Analysis & analysis analysis some analysis analysis
Insightful answer about Answers question about Somewhat answers about May/may not have answer about
Comparison
value of money value of money the value of money value of money

Presentation Communicates clearly and Communicates clearly, Communicates findings Communicates with minimal
& Class Work persuasively, highly organized with some clarity, clarity. More organization
organized and engaging somewhat organized needed

In class work is on task and In class work is on task with In class work requires a In class work is unfocused and
focused; helps others to very few reminders little more focus and needs requires consistent teacher
stay on task as well teacher reminders reminders