Economics: Understanding Needs and Wants - Needs vs. Wants Collage
This activity will help students differentiate between needs and wants, and understand the concept of scarcity in economics.
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Economics: Understanding Needs and Wants
Title: Needs vs. Wants Collage
Compliance Standard: Common Core State Standards - Mathematics, Grade 3
Subject: Economics
Summary: This activity will help students differentiate between needs and wants, and understand the concept of scarcity in economics.
Topic: Needs and Wants in Economics
Learning Outcomes:
- Identify and define needs and wants
- Understand the concept of scarcity
- Differentiate between needs and wants
- Create a collage to represent needs and wants
Methodology:
This activity will be conducted in three stages:
- Introduction: Begin the lesson by discussing the difference between needs and wants. Use real-life examples to help students understand the concept. Explain that needs are things we must have to survive, while wants are things we desire but can live without.
- Collage Creation: Provide each student with a large sheet of construction paper, magazines, scissors, and glue. Instruct them to create a collage that represents their needs and wants. They can cut out pictures from the magazines and glue them onto the paper. Encourage creativity and diversity in their choices.
- Sharing and Reflection: Once the collages are complete, allow students to share their work with the class. Ask them to explain why they chose certain pictures for their needs and wants. Facilitate a class discussion on the concept of scarcity and how it relates to needs and wants.
Resources/Materials Required:
- Construction paper (1 sheet per student)
- Magazines
- Scissors
- Glue
Instructions:
- Introduce the concept of needs and wants to the students.
- Explain the activity and distribute the required materials.
- Allow students time to create their collages.
- Once the collages are complete, have students share their work with the class.
- Facilitate a class discussion on scarcity and its connection to needs and wants.
Assessment:
To assess student understanding, observe their participation during the class discussion and their ability to explain their collage choices. Additionally, you can provide a short written reflection prompt asking students to explain the difference between needs and wants and how scarcity affects their choices.
