Do your kids ever get what they “need” mixed up with what they “want”? Of course they do! If we’re honest, sometimes we do, too. Wants versus needs is just one of the many life lessons about money that we all work to learn–and remember–throughout our lives. Try this fun way to get your kids talking about needs and wants and other important economic concepts with this FREE Economics Lesson for Kids.
This bite-sized unit explores the differences between wants and needs, explains supply and demand, illustrates bartering, and shows the value of work.
For example, we know food is a need, so does that mean that tasty chocolate bar is also a need? Why are some things like diamonds so expensive but plastic bottles are cheap? Why do stores have clearance aisles? Kids learn the answers to all these questions and more in this unit.
Perfect for your 8-10-year-olds, this FREE economics lesson for kids presents key money concepts in a way that is easy for kids to understand and parents to teach. It begins by explaining the basics in a simple manner with real-world examples. Then it leads kids through a fictitious scenario so they understand how these concepts can affect their daily lives.
A quick review at the end tests reading comprehension and understanding of the key concepts. An answer key is included.
Grab this FREE Economics Lesson for Kids today!
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