The document is the second in a series of four competency-based inservice teacher education modules in consumer education. The main objective of the program is to assist curriculum developers and elementary and secondary classroom teachers as they plan, develop, implement, and evaluate a multidisciplinary consumer education program. The present module presents a conceptual framework drawing on consumer and economic concepts and generalizations in nine areas: (1) production and consumption of goods and services; (2) scarcity, exchange, specialization, and economic interdependence; (3) economic freedom; (4) the market, equilibrium, supply, and demand; (5) business and industry; (6) government; (7) finance; (8) family/household financial planning; and (9) the consumer. The module also presents pretest exercises to assess knowledge of consumer concepts, an outline of concept clusters, suggestions for follow-up activities, and references. Learning activities involve teachers in filling in short answer blanks, role playing, answering questions, writing essays, drawing up budgets, taking multiple choice quizzes, and analyzing graphs, charts, and economic forecasts. Upon completion of the exercises in this module, teachers are expected to be able to demonstrate knowledge of a conceptual framework for consumers education and to identify and comprehend consumer education concepts related to the nine content areas. (Author/DB)