# CTE Resource Center - Verso - Marketing, Advanced Task 409415031

CTE Resource Center - Verso

Virginia’s CTE Resource Center

Identify the benefits and costs of granting credit.

Definition

Identification should include reasons for granting or denying credit and the differences between consumer credit and business credit markets. Benefits of granting credit may include an increased customer base and the ability to sell higher-priced products. The costs of granting credit include fees and collection costs.

Process/Skill Questions

  • How does a business benefit from granting credit?
  • What are the costs of granting credit?
  • What are the consequences of granting credit to customers who are not creditworthy?
  • What risks are involved with granting credit?
  • Are reward cards a good deal for consumers? Why, or why not?

Related Standards of Learning

English

11.5

The student will read, interpret, analyze, and evaluate a variety of nonfiction texts including employment documents and technical writing.
  1. Apply information from texts to clarify understanding of concepts.
  2. Read and correctly interpret an application for employment, workplace documents, or an application for college admission.
  3. Analyze technical writing for clarity.
  4. Paraphrase and synthesize ideas within and between texts.
  5. Draw conclusions and make inferences on explicit and implied information using textual support.
  6. Analyze multiple texts addressing the same topic to determine how authors reach similar or different conclusions.
  7. Analyze false premises, claims, counterclaims, and other evidence in persuasive writing.
  8. Recognize and analyze use of ambiguity, contradiction, paradox, irony, sarcasm, overstatement, and understatement in text.
  9. Generate and respond logically to literal, inferential, evaluative, synthesizing, and critical thinking questions about the text(s).

12.5

The student will read, interpret, analyze, and evaluate a variety of nonfiction texts.
  1. Use critical thinking to generate and respond logically to literal, inferential, and evaluative questions about the text(s).
  2. Identify and synthesize resources to make decisions, complete tasks, and solve specific problems.
  3. Analyze multiple texts addressing the same topic to determine how authors reach similar or different conclusions.
  4. Recognize and analyze use of ambiguity, contradiction, paradox, irony, overstatement, and understatement in text.
  5. Analyze false premises claims, counterclaims, and other evidence in persuasive writing.

Other Related Standards

National MBAResearch Standards-Business Administration

Implement financial skills to obtain business credit and to control its use.

 

Understand the fundamental principles of money needed to make financial exchanges.