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Economic Decision Making

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Essential Learning Outcome

To be aware that we all have things we need and things we want

Introduction

This strand helps students develop an understanding of basic economic concepts, including needs and wants, goods and services, resources, and transportation. Students will learn to distinguish between necessities and desires, understand how goods and services meet our needs, explore how we use environmental resources, and recognize the importance of transportation safety.

Focusing Questions

  1. What are needs and wants?
  2. Does everyone have the same needs?
  3. What are goods and services?
  4. Who provides us with goods and services?
  5. What are resources?
  6. What is the environment?
  7. What are natural resources?
  8. What are man-made resources?
  9. How does the use of resources meet our needs and wants?
  10. How can we use resources wisely?
  11. How do we get from place to place?
  12. Why is it important to be careful when traveling about?