Economics Topic 1
Full Unit

Topic 1: What is money?
1. What does money represent?
2. What is barter?
3. Why do we use money instead of trading for what we want?
4. What are wants and needs?
5. What are goods and services?

Money represents value.

Barter is trading objects for other objects.

Needs include water, food, shelter, clothing, and medicine. Needs are things that people cannot live without.

Wants include things that a person would like to have, but does not need in order to survive, like toys, treats, or sports equipment.
Goods are items that are sold that you can touch or see, like houses, lemonade, cars, toys, or pets.
Services are things that someone does for someone else in exchange for money, like a haircut, a car wash, a hotel room, or service at a restaurant.
Links and Activities

Budget Buzz
Social Studies for Kids
Scholastic Economics
Vermilion Economics
Mrs. Mitchell's Economics
Rutgers Economics
CoolMath - Lemonade Stand
ClassBrain - Lemonade Stand
OMSI - Lemonade Stand


BrainPop - Banking
BrainPop - Budgets
BrainPop - Comparing Prices
BrainPop - Credit Cards
BrainPop - Debt
BrainPop - Money

BrainPop Jr. - Goods and Services
BrainPop Jr. - Need and Wants
BrainPop Jr. - Saving and Spending

School House Rock - Dollars and Sense
School House Rock - The Check's in the Mail
School House Rock - $7.50 Once a Week
School House Rock - Where the Money Goes
School House Rock - This for That