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Grade 3
Economics and Work
Economic Systems
12. Economic Choices
12.1 Decision Making
Make Smart Economic Choices Every Day!
You will learn how to use money wisely, understand needs and wants, and make smart decisions about spending and saving.
What You'll Learn
You learn that economic choices involve using money wisely always.
You discover needs are essential while wants are enjoyable extras.
You understand scarcity and opportunity cost shape every spending decision.
You practice budgeting and saving to reach your financial goals.
What You'll Practice
1
You will identify needs, wants, scarcity, and opportunity cost concepts.
2
You will solve real-life money problems involving budgets and saving.
3
You will explore producer and consumer roles in the economy.
Why This Matters
Understanding economic decision making helps you use your money wisely and make smart choices about needs, wants, and saving every day.
This Unit Includes
Practice exercises
Learning resources
Skills
Economic Choices
Opportunity Cost
Needs vs Wants
Budgeting
Scarcity
NL Curriculum Aligned