This resource examines the basic economic concept of needs and wants. It contains relevant questions and tasks that can engage students to explore this economic concept and its applications, with the goal to ideate innovative economic solutions to curb resource scarcity in their locality. This is suitable for the classroom.
College, Career, and Civic Life (C3) Standards
Dimension 2: Economics
D2.Eco.1.K-2 Explain how scarcity necessitates decision making.
D2.Eco.10.K-2 Explain why people save.
D2.Eco.12.K-2 Describe examples of the goods and services that governments provide.
Dimension 3: Gathering and Evaluating Sources
D3.1.K-2 Gather relevant information from one or two sources while using the origin and structure to guide the selection.
Dimension 4: Communicating and Critiquing Conclusions
D4.1.K-2 Construct an argument with reasons.
Common Core English Language Arts Standards (CCSS.ELA)
Speaking & Listening (K-12)
CCSS.ELA-LITERACY.SL.1.1 Participate in collaborative conversations with diverse partners about grade 1 topics and texts with peers and adults in small and larger groups.
CCSS.ELA-LITERACY.SL.1.2 Ask and answer questions about key details in a text read aloud or information presented orally or through other media.