Risky Business: What Every Teenager Needs to Know About Living Smart - Lesson Details

Activity 4.3 - How to Manage Risk

In this activity, students use case studies to explore the three approaches to dealing with risk: (1) Avoiding risk, (2) Reducing risk and (3) Sharing risk. The students act as risk-management consultants to the high school students portrayed in the cases.

Concepts:

Insurance, Managing risks, Types of insurance
National Content Standards in Economics:
  • Standard #1: Scarcity
  • Standard #4: Incentives
  • Standard #10: Institutions


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