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Saturday, March 29, 2014

Wants Vs. Needs

Our Economics Unit is one of my favorites because it is always a hit with my kids.

I wanted to see what students had background knowledge about the terms "wants and needs" so I gave them each two sticky notes and asked them "What do you think WANT means? What do you think NEED means?

One of my favorite sidebar conversations that I heard was "Well I asked my mom for new Nike shoes and she said I DIDNT NEED THAT" "But you do need shoes to survive, so she SHOULD have bought them for you."

Afterwards, we watched a BRAIN POP Jr. short video that explained Wants and Needs. Students were able to write down the real terms if they didn't already have that answer on their sticky note.
Next, we started our Wants and Needs Folders. The students were given $40. They had to spend $20 on things they need to survive and $20 on things that they thought would increase their quality of life. I gave each student a lined piece of paper where they made a T chart to keep track of their spending. Their objective was to total up their purchases to make sure they did not exceed their $20 limit.

I had both magazines and Publix adds to groups to look through. It was interesting how many students asked "Can I buy this Puppy?"




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