📖

Making Choices with Limited Resources

Economics: Needs and Wants

Day 107of 180
Week 22of 36
25Minutes
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🖨️ Download Worksheet (PDF)
🎯 What You'll Learn

Learning Objectives

1

Understand the concept of limited resources

2

Learn that we cannot have everything we want

3

Develop basic decision-making skills

📖 Scripture Connection

Proverbs 21:5

“The plans of the diligent surely lead to profit; and everyone who is hasty surely rushes to poverty.”

— Proverbs 21:5 (WEB)

Shows the importance of careful planning and making wise choices

📦 Materials Needed

  • Play money
  • Shopping scenario cards
  • Small toy items
  • Envelope for each student
📚 Step-by-Step

Lesson Plan

1Opening (5 min)

Gather students in a circle and ask them to share one thing they really want to buy. Explain that today we'll learn about making choices when we can't have everything.

💭 Review Question: What is something you want but don't need?
2Teaching (8 min)

Explain that we all have limited money and cannot buy everything we want. Sometimes we must choose between different things and decide what is most important.

📌 Key Talking Points:
  • Money doesn't grow on trees
  • We must make smart choices
  • Some things are more important than others
💬 Discussion Questions:
  • What are some things you really need?
  • How do you decide what to buy first?
  • Why can't we have everything we want?
3Activity: Limited Shopping Challenge (8 min)
game

Students get an envelope with play money and must make choices about purchasing items

📝 Instructions:
  1. Give each student $10 in play money
  2. Place toy items with price tags on a table
  3. Students must choose what to buy with limited funds
  4. Discuss their choices after shopping
🔄 Variations:

Simpler: Fewer items to choose from

Challenge: Add unexpected expenses like 'birthday gift for friend'

4Closing (4 min)

Remind students that God wants us to be wise with what we have

📝 Review Questions:
  • What did you learn about making choices?
  • Why can't we buy everything we want?
🙏 Prayer:

Dear God, help us be thankful for what we have and make wise choices.

Coming up: Tomorrow we'll learn more about how our choices have consequences

💎 Memory Verse

Proverbs 21:5

“The plans of the diligent surely lead to profit”

— Proverbs 21:5 (WEB)

🎯 Activity: Repeat verse while doing jumping jacks

👨‍👩‍👧 For Parents

Teaching Notes

📚 Background:

Children are learning fundamental economic concepts of scarcity and choice

💡 Teaching Tips:
  • Use real-life examples
  • Encourage honest discussions about wants vs. needs
  • Model good decision-making
🤔 Common Struggles:

Children may get frustrated when they can't have everything

👀 Signs of Understanding:

Understanding that resources are limited and choices matter

🚀 Want More?

Extension Activities

  • Create a savings jar at home
  • Practice comparing prices at the grocery store
  • Discuss family budget decisions

Ready for Tomorrow?

Great job completing today's lesson!

Continue to Day 108 →Back to History & Social Studies