Economics- Wants and Needs
Grade Level: kinder
Subject: Social Studies
Time Frame: 4 weeks (Quarter 4)
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Big Understandings
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- individuals make choices based on wants
- describe choices people make about how to use the money they earn (PFL)
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Essential Questions
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- what are the benefits and costs of ownership?
- if you want to use someone else's item what must you do?
- what happens when someone wants to use something that belongs to you?
- what do we do if there is not enough of something we all want (scarcity)?
- what are things that everyone collectively owns?
- what are wants and needs?
- how do people make choices when they want something?
- how do people balance between wants and needs?
- what is the difference between a want and a need?
- How can money help people to meet their wants and needs?
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By the end of the unit, students will be able to:
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- identify the costs and benefits of a choice an individual makes when acquiring an item
- recognize and engage in ways to use another individual's items (asking for permission to share and taking turns)
- recognize choices people make
- explain how decisions are made
- give examples of the difference between spending income on something you want versus something you need
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Topics:
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â—¦ Wants and needs in the classroom
â—¦ Wants and needs at home
â—¦ Personal wants and needs verses whole class wants and needs
â—¦ Limited resources in the classroom
â—¦ Sharing resources- reasoning and working through situations
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Standards
SS.K.3.1
SS.K.3.2