Economics for Kids: Needs and Wants
3 min1st2nd3rdSocial Studies
Summary
An economics mini-lesson on needs vs. wants: needs are things we must have to live (food, water, shelter), while wants are things we'd like but can live without.
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All ages
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Teaching resources
Discussion questions
Needs are what we must have to live; wants are extras we'd like.
- What is a need? What is a want?
- Why can't we always have everything we want?
- What is one need and one want in your life?
Quick work-a-long
Words to know: need, want, choice
- Sort five items into needs and wants.
- Explain one choice: which would you buy first, and why?