TEACHING AND LEARNING - BUDGETING AND ECONOMICS WORKSHEET - ECONOMICS LESSON PLAN - SPENDING MONEY - VS - VERSE - SOCIAL STUDIES

NEEDS OR WANTS LESSON

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An important money concept for budgeting and economics is understanding the difference between NEEDS and WANTS.

Here, students must decide if each item is a need or a want.

LESSON LEARNED

Need and Want Identification

OTHER SKILLS REINFORCED

Budgeting
Elementary Economics

SUGGESTED

GRADE LEVELS

1 to 6

Multiple levels.

Suggested Lesson Plan for Needs verse Wants

A fundamental concept in budgeting and economics is needs and wants.

Needs are something you must have for survival. For example, food and water. Without food, you would not be able to live. Wants are something that you would like to have, but it is not necessary, and you could do without it. An example would be entertainment, toys, CDs, etc.

Sometimes needs and wants overlap. For example, cake is a food, but it is not a need, but a want. In general, you need a basic diet to survive, but that diet does not need to include cake.

Use the following worksheet to practice identifying needs or wants.

WORKSHEET Instructions

Students should look at each picture and decide if it is a need or a want. Worksheet choices allow worksheets to be created that either have the student circle the need, or the words "need and want" is written, and the student must circle the correct word.

Note that this is a random worksheet. A new worksheet is created every time you press the button below. Create multiple worksheets for additional practice for your students.