Wants and Needs
Grade 1•45 minutes•NYS social studies standard: NYS Social Studies Standards 2.8b People make decisions to buy, sell, and use money based on their needs, wants, and the availability of resources. Students will explore economic decision making and the use of money.
Learning Objective
I can tell the difference between things people need and things people want.
Practice Questions
This lesson includes 6 practice questions to reinforce learning.
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1. What are three things that you need to survive?
2. What are three things that you want, but don't need to survive?
3. Imagine you have money to buy either a toy car or a healthy snack. If you choose the healthy snack, is the toy car a need or a want? Explain your answer.
...and 3 more questions
Educational Video
Financial Literacy—Needs and Wants | Learn about needs, wants, and opportunity costs
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