All About the Money - First Grade Economics

Okay, so let's take it from the top! (Make sure you take some notes over the information given, there will be a worksheet at the end.)

What is Economics? Economics Website

What does it mean to save and spend your money? Click here to watch the video and find out! Make sure you remember this information later!! 

What are the differences between your everyday needs and your wants? What is a want? What is a need? Click me for your needs vs. wants info. This link will allow you to discover more about needs vs. wants. Also, do not forget to take the quiz on page 2.  For more info here is a video. 

After reading all the info, you and your group are ready!! Now you guys will get your money and go shopping with the  Wants & Needs Activity List I will give you. Put a check beside the things you all feel like are needs and an X beside the things you all feel are wants. Study this list before you all go shopping and remember your group cannot spend over $20. If it is more than that, you and your group will have some choices to make! This helps you remember you can't always have everything you want, choices are made every single day! 

Finally, here is your last activity since you have become such a wonderful shopper! 

• A piece of construction paper.
• Fold it in half.
• On one side label, it Wants.
• On the other side label, it Needs. 
• Get some old magazines or newspapers and cut out items your group considers to be wants and needs and glue 5 to each side. 
• Next, you will define Economics on the back of the construction paper.