Grade 1 Economics: Understanding Money, Needs & Wants by

What Are Needs and Wants?

karaharvey1 — 2025-04-28 05:45:10 UTC

Hello children! Today we'll learn about needs and wants. Needs are things we must have to survive, like food, water, and a home. Wants are things that make us happy but we can live without, like toys or ice cream. Can you think of 3 needs and 3 wants?

Fun Activity: Needs vs Wants Sorting

karaharvey1 — 2025-04-28 05:45:10 UTC

Let's play a sorting game! Take a Wants and Needs handout from Ms. Harvey's desk. Complete the sorting activity.

Remember: Needs help us survive, wants make us happy!

What is Scarcity?

karaharvey1 — 2025-04-28 05:45:12 UTC

Scarcity means we can't have everything we want because there isn't enough for everyone. Like when you and your friend both want to play with the same toy - that's scarcity! We need to make choices about what's most important.

Making Choices Game

karaharvey1 — 2025-04-28 05:45:12 UTC

Pretend you have $5 to spend at the school cafe. You can't buy everything - that's scarcity! Make a list of what you would buy and explain why. Remember to choose wisely!

Being Kind and Helping Others

karaharvey1 — 2025-04-28 05:45:13 UTC

When we help others who have less than us, we make the world a better place! We can donate toys, books, or food to those in need. Sometimes we can also help by volunteering our time. What are some ways you can help others?

Class Charity Project

karaharvey1 — 2025-04-28 05:45:14 UTC

How can you help other people with the money we get from Lemonade Day? Write and draw about it! ❤️

What is an Entrepreneur?

karaharvey1 — 2025-04-28 05:45:15 UTC

An entrepreneur is someone who creates something new to solve problems and help people! Like someone who makes special pencil grips to help their friends write better. What problem would you like to solve?

Lemonade Day!

karaharvey1 — 2025-04-28 05:45:15 UTC

We can't wait for Lemonade Day! Draw and write about how to make your lemonade delicious!

Learning Facts and Opinions

karaharvey1 — 2025-04-28 05:45:17 UTC

Facts are true statements that we can prove. For example: 'A dollar can be divided into 100 cents' is a fact. Opinions are what we think or feel, like 'Blue money boxes are prettier than red ones.' Let's practice spotting the difference!

Fact or Opinion Game

karaharvey1 — 2025-04-28 05:45:17 UTC

Let's play! Read each statement and decide if it's a fact or opinion:
1. Money can be used to buy things
2. Saving money is boring
3. The bank is the safest place for money
4. Purple wallets are the best

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Answers:

1. Money can be used to buy things (Fact)
2. Saving money is boring (Opinion)
3. The bank is the safest place for money (Fact)
4. Purple wallets are the best (Opinion)