Return to flip book view
PRESENTED BYwww.ReadingMakesCents.comLesson: Opportunity CostWANTS VS. NEEDSVS. ROBOTSBy Michael Rex
Wants vs. Needs vs. RobotsBy Michael RexPenguin Random House/2023STORY SYNOPSIS: Do you know the difference between awant and a need? It can be a hard thing tounderstand, especially when you wantsomething so much that you feel like youhave to have it. But some things aren’tessential—like jellybean tacos and groovyboots. Other things are essential—like fueland feet to put the boots on. The robots inthis book are here to show you thedifference as they make trades to get somethings they really want (hooray!) but giveaway some things they need (oops!).Lesson Plan By:Lynne Stover stoverlf@jmu.eduLauren Shifflett shiffllh@jmu.edu
Book- Wants vs. Needs vs. Robots by Michael Rex Prepared color sheets (duplicated front-to-back) Crayons or colored pencilsScissors The student will be introduced to the concept ofopportunity cost: “The value of the next-bestalternative when a decision is made; the secondchoice that is given up.” The student will participate in an activity thatrequires them to make a choice and identify theiropportunity cost. Because we cannot have everything we want(scarcity), we must make choices. Each time wemake a choice, we give something up. There isalways a next best alternative when making anychoice. The value of this next best alternative (orsecond favorite choice) is the opportunity cost.INTRODUCTION: In this lesson students will learn about making achoice. Just like the robots in the story, they willhave to make a decision, thus giving up otherpossible choices. GRADE LEVEL: 1-3TIME ALLOCATION: 25-30 minutesMATERIALS:OBJECTIVES: ECONOMIC CONCEPTS:Lesson Plan By:Lynne Stover stoverlf@jmu.eduLauren Shifflett shiffllh@jmu.edu
Reading Makes Cents 2023-2024Wants vs. Needs vs. RobotsOpportunity Cost VIRGINIA STANDARD OF LEARNING- HISTORY AND SOCIAL SCIENCEThe student will apply history and social science skills to demonstrate anunderstanding of primary economic principles by (b.) recognizing that Americansare free to make choices about what to buy and that they must make choicesbecause they cannot have everything they want.The student will apply history and social science skills to explain how individualsmake economic choices to meet their basic needs by (e.) describing why peoplemust make choices, prioritizing needs over wants. The student will apply history and social science skills to understand basiceconomic principles by (b.) distinguishing between needs and wantsThe student will apply history and social science skills to explain the basiceconomic principles of (d.) identifying examples of making an economic choiceand explaining the idea of opportunity costK.81.8 2.133.10 1.2.3.PROCEDURE:Prepare the materials prior to class. Run off the robot color sheets, front to back indifferent combinations. Introduce the lesson by reading Wants vs. Needs vs. Robots by Michaael Rex to thestudents. Discuss the various decisions the robots made so that so that they couldget the things they wanted. A YouTube reading of the book can be found here:https://www.youtube.com/watch?v=EpCUSQB874EDistribute the activity sheet and coloring tools. Tell the students that these areimages of friendly robots similar to the ones in the story. Note: online robot colorsheets may be found here: https://twokidsandacoupon.com/2023/02/free-printable-robot-coloring-pages-for-kids-and-adults.html Lesson Plan By:Lynne Stover stoverlf@jmu.eduLauren Shifflett shiffllh@jmu.edu
Reading Makes Cents 2023-2024Wants vs. Needs vs. RobotsOpportunity Cost 4.5.PROCEDURE:Instruct the students to color both sides to the best of their ability. Encouragestudents to give the robots they are coloring a name. When the students arefinished, give them a pair of scissors and inform them they must cut out ONE oftheir colored robots for display. Explain that the other side will be destroyed, so thechance to display that side will be their opportunity cost. (Be prepared forcomplaints from students. Some will have a difficult time deciding which robot tokeep.)If possible, display student work on a bulletin board titled “Wants vs. Needs vs.Robots Opportunity Cost”. Lesson Plan By:Lynne Stover stoverlf@jmu.eduLauren Shifflett shiffllh@jmu.edu
Lesson Plan By:Lynne Stover stoverlf@jmu.edu & Lauren Shifflett shiffllh@jmu.edu Reading Makes Cents 2023-2024Wants vs. Needs vs. RobotsOpportunity Cost
Lesson Plan By:Lynne Stover stoverlf@jmu.edu & Lauren Shifflett shiffllh@jmu.edu Reading Makes Cents 2023-2024Wants vs. Needs vs. RobotsOpportunity Cost
Lesson Plan By:Lynne Stover stoverlf@jmu.edu & Lauren Shifflett shiffllh@jmu.edu Reading Makes Cents 2023-2024Wants vs. Needs vs. RobotsOpportunity Cost
Lesson Plan By:Lynne Stover stoverlf@jmu.edu & Lauren Shifflett shiffllh@jmu.edu Reading Makes Cents 2023-2024Wants vs. Needs vs. RobotsOpportunity Cost
Lesson Plan By:Lynne Stover stoverlf@jmu.edu & Lauren Shifflett shiffllh@jmu.edu Reading Makes Cents 2023-2024Wants vs. Needs vs. RobotsOpportunity Cost
Lesson Plan By:Lynne Stover stoverlf@jmu.edu & Lauren Shifflett shiffllh@jmu.edu Reading Makes Cents 2023-2024Wants vs. Needs vs. RobotsOpportunity Cost