In Lecture 2 of Chapter 7 What Goes Around Comes Around, students learn about vowels and consonants, compound words, and homonyms through examples and practice. The fable of the frog and the mouse is discussed again, highlighting its moral “As you sow, so shall you reap.” The lesson also explains the elements of a fable and a short story, showing how characters, setting, plot, conflict, climax, and resolution work together to teach a moral lesson. Activities include filling in blanks with correct words, practicing compound words and homonyms, and enhancing vocabulary with meanings. The story reinforces the importance of kindness and fairness, reminding students that their actions bring consequences.