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Needs, Wants, and Making Economic Choices

5th Grade · Social Studies · US-UT-SS

6 lessons

Goal

Identify the difference between needs and wants and understand how scarcity requires making choices.

6 lessons
0 of 6 done
  1. Understanding Basic Needs: Food, Clothing, and ShelterUp next
  2. Understanding Wants: Things We Would Like to HaveNot started yet
  3. Families Meet Needs in Different WaysNot started yet
  4. Sorting Everyday Items into Needs and WantsNot started yet
  5. What Is Scarcity: We Cannot Have Everything We WantYou are here
  6. What Is Opportunity Cost: The Choice You Give UpNot started yet
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Learning standards covered

us-ut1.4.1Utah Social Studies Standards · 5th Grade

Explain the costs and benefits of spending and saving in order to meet needs and wants.