Trade-Offs: Malcolm Decides (1978)

How do you make a decision? Watch for the five steps that can help you make a decision. The Canadian Foundation for Economic Education and the Joint Council on Economic Education present Tradeoffs. [music] [music] >> [music] [music] [music] >> Once upon a time, there was a paper carrier who lived in a [music] small town called Brooktown. And many of the people there thought he was the best paper carrier they ever had. [clears throat] Excuse me, that's not who I was talking about. Oops, wrong town. That's better. That's who I was talking about. That's Malcolm, one of the best paper carriers in Brooktown. During his first month as a paper carrier, people realized that Malcolm [music] was very reliable. >> Hey, John, hold up. Here comes Malcolm. >> Must be Quinton time. [music] >> You can set your watch by that boy. [music] They also learned that he was very accurate. [music] And of course, he was always very courteous. In fact, it wouldn't have surprised most people if Malcolm won the paper carrier of the month award at the end of his very first month. Nevertheless, when Malcolm's root manager, Mr. Thorne, told Malcolm that >> Hey, Malcolm, by the way, Michaels wants to see >> the big boss, Mr. Michaels, [music] wanted to see him about something. Well, Malcolm was both surprised and [music] worried. >> [music] >> Mr. Michaels. >> Yeah. Yeah. Hold on. Can you wait just a second, please? Hey, Phil. I can't find it. I'll call you back when I find it. All right. Okay. [sighs] Call Phil. Okay. Yeah. What can I do for you? >> Mr. Thornne said you wanted to see me. I had a giant torso last Tuesday. >> Oh. Oh, you you Malcolm? >> Oh, Malcolm. Malcolm, I have something I want to give to you personally. I got it here somewhere. Ah, right in front of my eyes. Malcolm, you have been chosen as the Brooktown Gazette Paper Carrier of the Month, and I've got a $15 gift certificate to give to you. >> $15? >> Well, it's not $15. A $15 gift certificate. You see, you can only spend it at this department store. You can't save it or spend it anywhere else. And we do that on purpose because we want our paper carriers to go out and buy themselves something really nice. You've worked very hard and you deserve it. >> Thank you, Mr. Michael. >> Yeah, sure. Sure. >> Keep up the good work. Now, uh, [music] Uh, hello young man. May I help you? >> How much does this hockey game cost? >> Let me see. Oh, it's $13.99 with tax. That's $14.70. It's a very popular game. I'll take it. >> [music] >> Can you believe that's the same Malcolm who just won the paper carrier of the month award getting ready to use his certificate on the first thing that caught his eye? How does he know what's the best choice to make? Has he asked himself about the other ways he could use his gift certificate? It doesn't look like it. If only someone were there to whisper in his ear. Malcolm, are you sure that's the only thing you could use your gift certificate for? >> Will there be anything else? >> How much does this airplane cost? >> That's 1350 with tax. Will you be buying one of these two? >> No, I don't have one certificate. I don't know which one I want. The game or the airplane? Or maybe something else? >> Uh-huh. Malcolm's just discovered he has a problem. Only one $15 certificate and all kinds of different ways to spend it. So now, what's he going to do? >> This is about $15, too. Yes, that's just under 15 with tax. >> Exactly what he's doing now. Sizing up his alternatives. >> How much does a soccer ball like this cost? >> That's right. He's got to keep checking out the different things he can buy with his gift certificate. >> You know, you are beginning to make a really careful choice. This is one of our best buys in this department. It goes for $15 even including tax. Well, here are the things I want. >> So, which will it be? >> I don't know. I like them all. >> What about this hockey game? Do you think you would enjoy that? >> I like the soccer ball, too. It's just the more I try to pick one, the more confused I get. >> Of course, he's confused. He's found four things that he wants that he can buy with his gift certificate. But he hasn't asked himself, "What makes this right for me?" >> I'm not going to be able to decide till I figure out which one is best for me. >> That's it. But they're all very nice. >> Sure, but whichever one I buy, it's going to have to last. It can't break the first time I use it. And mom and dad are going to have to say it's okay. Cuz if they won't let me use it, it'll be a big waste. And I only have a $15 gift certificate. So, I don't want to have to spend anything extra to use what I buy. And I want to be able to use it all the time. cuz it wouldn't be much good if I could hardly ever use it. >> Fortunately, things shouldn't be confusing anymore now that Malcolm's determined what's important to him. Now, it's just a matter of >> So, will this last or does it break easily? >> Well, this model airplane is lots of fun, but it has to be handled very carefully. >> That was How about this bow and nail set? >> It's very sturdy. >> Will your parents permit you to have a bow and arrow set? >> No. Maybe you'd like to reconsider this electric hockey game. >> Will it last? >> It should. >> I don't think my mom will have any problems with it. >> So, how about the batteries? Do they come with it? >> No, you do have to buy $2 worth of batteries to make it work. Then I'll guess it has to be this soccer ball. It'll certainly last. It's made out of genuine cowhide. >> My parents should like it. >> And there are no batteries or any extra items to buy. >> But wait a minute. I won't be able to use it during the winter when it's icy, >> you know. No question about it. You are certainly making a careful choice. >> Smart fellow. >> I love my own radio, but these cost tons. Huh? >> No, that one only costs $15 including tax. >> It does. Do you think it will last? >> As long as you don't drop it. >> And your parents shouldn't mind as long as you don't play it too loudly. >> Yeah. Plus, there's an earplug, >> and I can use it all the time. >> How about the batteries? I bet I have to buy lots of them. >> Good news. It comes with a charger and rechargeable batteries. >> It does. Okay, I'll take it. >> I'll ring it up. >> Can I try it first? >> Of course. And it comes with a complete warranty. >> Nice going, Malcolm. And now, stay tuned for a special message about decision making. Decisions, decisions, decisions. Malcolm had to make a decision. Most decisions involve choice. Malcolm had to make a choice about using his $15 gift certificate. He used five steps to solve this problem. The first step was defining the problem. Malcolm's problem was that he had only one gift certificate, but many things for which it could be used. He had to choose what was right for him. He found the different things he wanted. These were his alternatives. Then he had to figure out what was important to him about what he could buy. Was it less than $15? Would it last? Would it be okay with his parents? Would there be extra costs? Would it be useful all the time? These were important to Malcolm. They were his criteria. After defining his problem, listing his alternatives, and stating his criteria, Malcolm compared his alternatives with his criteria and evaluated them. Next, Malcolm took the final step in solving his problem. He decided which thing to buy. In making other decisions, Malcolm can use the same five steps he used in deciding to buy the radio. And you can use these steps when you make decisions. Do you really remember the steps in making a decision? First, define your problem. Second, list your alternatives. Third, state your criteria. Fourth, evaluate your alternatives. And fifth, make your decision. Whenever possible, check the results of your decision. Find out if it was a good decision for you. What are the five steps? Now try using these steps to help Malcolm decide what to do about another problem. >> I wish dad didn't have to go to work on Saturdays. >> Yeah, so do I. >> Is this yours, Malcolm? >> Yeah, I got paid last night. Look inside. $25. >> H maybe I ought to get a paper wrap. Then we'd be rich. >> But I have to buy a new back tire for my bike. The other one is getting bald. And if I don't have a new back tire, I can't do my paper wrap. >> That's too bad. You've been pretty good about putting your money in your savings account. >> Not this week. >> Well, you probably still have enough for a record player. >> Yeah, but I have to keep on buying tires. I'll never save up. >> Oh, you can do it. You won't have to buy a tire next payday. You'll be able to put that money in your savings account. Then it'll earn interest like the rest you've saved. Then you'll be able to buy your record player that much sooner. >> Do you know what day it is tomorrow? >> It's Sunday. >> It's your birthday. What do you want? >> Oh, don't worry about that. Your dad will take care of my present. You keep your money for yourself. You work too hard for it. >> Get that tire you need. >> Come on, Mom. I want to get you something nice. >> Save your money. That would please me more. >> I'll get you something. Don't worry. This purse is awfully scuffed up. Maybe mom would like a new one. >> [music] >> Now Malcolm has a brand new problem. Only $25 and several ways to use it. He could use it for a purse for his mother's birthday present, for his tire, or to save for his new record player. >> May I help you, ma'am? What's the difference between these two purses? >> Well, this $10 purse is made of finer leather and it's softer, too. See? >> I think my mom might like one of these. >> Either one would make a very nice gift. >> But what about your back tire, Malcolm? >> You need a new tire for your bike? Well, this $10 tire is an excellent buy, but if you're going to do a lot of riding, it's not going to wear as well as the $15 model. >> I really need a good back tire. I need my bike for my paper. >> But don't forget about saving for your record player. >> He could buy the $10 purse for his mom, the $10 tire for himself, and still have $5 to save. >> But that's not the only way he could spend the $25. >> I could buy my mom the $5 purse, get myself the $15 tire, and still have $5 to put in my savings account. >> But then again, what if Malcolm bought his mom the $5 purse and bought himself the $10 tire for his bike? [music] Then he could save $10, earn more interest, and buy the record player sooner. >> What if I bought my mom the $10 purse? [music] >> Then I bought myself the $15 tire and I didn't save anything. >> What about saving for the record player? [music] Poor Malcolm. Decisions, decisions. [music] But wait a minute. Can you apply the decision-making model to his problem? What would you decide and why? [music] [music] The content of tradeoffs was developed entirely with funds from a consortium of 46 [music] state and provincial education agencies. Other funds for trade-offs were provided by these foundations [music] and corporations. [music] This program was produced by EFC, Educational Film [music] Center, Northern Virginia Educational Telecommunications Association. Animated segments produced by Goldshaw and Associates [music] under the supervision of AIT, the Agency for Instructional Television.