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Overview
Grade 1
Community and Governance
Economic Understanding
16. Economic Choices
16.1 Making Simple Decisions
You Can Make Smart Economic Choices Every Day!
You will learn how to decide between needs and wants, understand trade-offs, and use your money in a smart and responsible way.
What You'll Learn
You learn the difference between needs and wants every day.
You discover that trade-offs happen every time you choose something.
You practice spending and saving money to reach your goals.
You understand that limited money means you must choose wisely.
What You'll Practice
1
You will identify needs and wants in real everyday situations.
2
You will practice choosing between goods using limited money.
3
You will explain trade-offs and why saving money is smart.
Why This Matters
Understanding how to make simple economic decisions helps you use your money wisely and take care of your most important needs every day.
This Unit Includes
Practice exercises
Learning resources
Skills
Economic Choices
Needs vs Wants
Trade-offs
Saving Money
Scarcity
AB Curriculum Aligned