Lesson · Grade 1 · Mathematics
Money Is for Trading: Needs and Wants
- Grade 1
- Mathematics
- 1 min 5 s
- British Columbia
- BC1-MA-21
We count five $1 coins to get $5, then visit a market stall where bread is a need costing $3 and a ball is a want costing $4. Since $3 + $4 = $7 is more than $5, we trade 3 coins for the bread first and have $2 left, because needs come first, then wants.
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In one sentence
The question this lesson answers
What is money for? Let us find out.
We have 5 coins: 1, 2, 3, 4, 5.
Transcript
What the lesson says
What is money for? Let us find out.
We have 5 coins: 1, 2, 3, 4, 5.
Each coin is 1 dollar, so we have 5 dollars.
Money is for trading, for things we need or want.
We must have food, so bread is a need.
We can live without a ball. It is a want.
How much? Bread costs 3 dollars. The ball costs 4 dollars.
Can we buy both? 3 and 4 make 7.
That is 7 dollars. We only have 5. Not enough!
Needs come first, so we buy the bread.
We trade 3 coins for the bread: 1, 2, 3.
5 take away 3. We have 2 dollars left.
Money is for trading. Needs come first, then wants.
Curriculum
Where this fits
- British Columbia, Grade 1
Mathematics, Financial literacy: financial literacy: values of coins, and monetary exchangesBC1-MA-21
The outcomes and strands follow the British Columbia curriculum.
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