We started our Economics unit for social studies today. The first things we learned were needs and wants. A need is something we can’t live with out, a want is something that makes life more fun. 🙂
The kids know that we have 5 needs:
food, water, shelter, clothes,
We also talked about goods and services. A good is something you buy that you can hold or touch, and a service is something that someone else does for you. The kids did a great job of brainstorming different kinds of services- mailmen, waiters, policemen, teachers, and dentists.
We turned our room into a factory this afternoon to talk about producers and consumers. We learned that we are all consumers (use, buy, & eat things) and we learned that producers make things. We all became producers within Factor