Social Studies - 2018-19

K.9 - Money and Choices

The student will 

a) recognize that people make choices because they cannot have everything they want; and

b) explain that people work to earn money to buy the things they want.

Adopted: 2015

BIG IDEAS

  • No one can everything he or she wants.
  • Choices have consequences.


UNDERSTANDING THE STANDARD

People cannot have everything they want. A decision-making model helps people make choices.

People have to make choices about things they want.

People work to earn money and use it to buy the things they want.

ESSENTIALS

Terms to know

  • choice: Deciding among two or more things
  • wants: Things people would like to have
  • money: What people use to buy the things they want (paper bills and coins are examples of money)

When people cannot have everything they want, they must choose something and give up something else.

Sample Decision-Making Model

Decision to be made:

Benefits

Costs

   

KEY VOCABULARY

Updated: May 18, 2018