4.2.1+Lesson+3

= LESSON PLAN = created by: Valley View & Cedar Valley 1st Grade Teachers

__Core Objective/Standard__:
Standard 4: (Financial Literacy): Students will describe the economic choices people make to meet their basic economic needs. Objective 2: Recognize that people need to make choices to meet their needs. Indicator a: Describe the economic choices that people make regarding goods and services.

__Student learning objective__:
Students will: - Differentiate between needs and wants - Demonstrate making choices based on unlimited wants and limited resources - Understand that making a choice involves giving something up - Define price as the amount of money used to buy or sell something

__Materials needed__:
- Book: //Something Good//, by Robert Munsch (Annick Press Ltd., 1993) - Chart paper or chalkboard - Play money: pennies, nickles, dimes, and quarters - Optional: drawing paper and crayons - Handouts: (See Website for [|Finance in the Classroom]) - **Wants and Needs** flash cards, colored, laminated, and cut apart - **The Price is Wrong** worksheet

__Teacher (To) directions/actions/instructions__:
See complete lesson plan on [|Finance in the Classroom] website

__Teachers/Students (With) actions__:
See complete lesson plan on [|Finance in the Classroom] website

__Students (By) actions/activities students will do during lesson__:
See complete lesson plan on [|Finance in the Classroom] website

__Assessment-these may be written, verbal, observations, etc__:
Check students' understanding by listening carefully to the responses they give during group discussions and on the **Wants and Needs** flash card activity. Observe them counting money in the small group activity and check their responses on **The Price Is Wrong** worksheets,