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Exploring Economics in First Grade: Understanding Needs, Wants, Goods, and Services

Join Janelle Ryder's economics class as we delve into the basics of economics for first graders. Discover the concepts of needs, wants, goods, and services through engaging lessons on production, consumption, and decision-making. Learn why people save money and how economics impacts daily life.

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Exploring Economics in First Grade: Understanding Needs, Wants, Goods, and Services

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  1. You Can’t Always Get What You Want” Janelle Ryder

  2. Economics First Grade

  3. What Is Economics? Needs Wants Resources: Computers, Farmers, Water Business: Employers & Employees Production & Consumption Making Choices

  4. Virginia Standards Of Learning • 1.7 The student will explain the difference between goods and services and will describe how people are both buyers and sellers of goods and services • 1.8 The student will explain the people make choices because they cannot have everything they want • 1.9 The student will recognize that people save money for the future to purchase goods and services

  5. Unit Questions What are needs and wants? What are goods and services? Why do people save money?

  6. Essential Questions • How does economics affect you? • How does economics play a role in your daily life?

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