Needs and Wants in Our Economy
Explore the difference between needs and wants, and how they impact economic decisions in this Grade 5 social studies worksheet.
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Needs and Wants in Our Economy
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Read each question carefully and answer to the best of your ability. This worksheet will help you understand the difference between needs and wants, and how they affect our daily lives.
1. Which of the following is considered a basic human need?
A new video game
Food
A fancy car
A pet dog
2. A 'want' is something that:
You must have to survive
Makes life more comfortable or enjoyable
Is provided by the government
Is always free
3. A is something that is necessary for survival.
4. A is something you desire but can live without.
5. Money helps us to buy both and .
6. All people have the same exact needs and wants.
True
False
7. Education is considered a want, not a need.
True
False
8. Give two examples of a need and two examples of a want. Explain why each is categorized that way.
Use the words below to complete the sentences.
9. Having a roof over your head is a need.
10. A diamond necklace is a item.
11. Going to a concert is a form of .