Answer:
Outline:
Strategies to consider:
1.) Needs and wants
-does he need new shoes?
2.) Opportunity cost
- savings he loses if he buys new shoes
- how long did he work to pay for those shoes?
3.) Short-term and long-term goals
- need shoes now?
- can plan to buy shoes in the future?
Explanation:
Paragraph:
Sample response: Frankie should consider several strategies before buying a new pair of shoes. First, he should think about whether these shoes are a need or a want. Next, he should consider opportunity cost. If he buys the shoes, how else could he have spent that money? Could he have made better use of his resources? Finally, he must consider the issue of setting goals. He must identify whether this is a goal to accomplish now or in the future.
