๐ Part 1 โ Vocabulary (write the definition in your own words)
๐ Part 2 โ Key Concepts (fill in the blanks)
A is something required for survival. A is something you desire but don't need to survive.
When you choose to spend money on one thing, you give up the chance to spend it on something else. This is called .
Ads are designed to make feel like .
means wasteful excess. means spending with moderation and purpose.
๐๏ธ Part 3 โ Need or Want? Sorting Activity
Write each item below into the correct column. Some may be gray areas โ use your best judgment!
WaterVideo GamePhone
HouseCandyElectricity
NetflixSchool SuppliesNew Sneakers
Internet (for school)VacationToothbrush
Items I wasn't sure about (gray areas):
โ๏ธ Part 4 โ Opportunity Cost Practice
You have $30. You must choose ONE:
โ Option A โ New book series ($30) โ Option B โ Movie + snacks with friends ($30)
I choose: โ Option A โ Option B
What is the opportunity cost of my choice?
Was it worth it? Why?
โ๏ธ Part 5 โ Journal Prompt
"Describe something you want right now. Be honest โ is it actually a need? Explain."
๐ Take-Home Challenge
For 3 days, track what you (or your family) spend money on. Label each one N (Need) or W (Want).