This lesson introduces students to different methods of payment for goods and services. The costs and benefits of each payment method are explored in a role play of a round table discussion titled "Payment Parliament." Students compare use of each payment option and learn how the Federal Reserve System processes all forms of payments for consumers.

Grade levels:	3-5, 6-8
Content keywords:	credit, debit, electronic payment, federal reserve, payment methods, role play, banking
Key Concepts:	Federal Reserve System, Banking, Credit
Resource type:	Lesson Plans
Time requirement:	30-60 minutes