Needs vs. Wants for Kids: Basic Economics Video Lesson & Printable Worksheet
Lesson Details
Duration (minutes)
3
Grade Level
K-2
Summary
This video teaches young children the difference between needs (things required to survive, like water, food, and shelter) and wants (things that are fun but not necessary, like toys and candy). Through simple examples like a winter coat versus a superhero costume, it helps kids practice telling the two apart and encourages satisfying needs before spending on wants.
Student Worksheet: Needs vs. Wants
Teacher Note: Students can watch the video lesson above and answer the questions. Click the “Teacher Answer Key” dropdown below when you are ready to review the solutions!
Key Concepts:
• Needs: Things a person must have to live, like water, food, shelter, and clothing.
• Wants: Things that are fun or nice to have, but you don’t need them to survive, like toys and candy.
Instructions: Read each question carefully and write your answer in the space provided.
- Question 1: What is a “need”? Give one example from the video.
- Question 2: What is a “want”? Give one example from the video.
- Question 3: Is a winter coat a need or a want? Why?
- Question 4: Is a superhero costume a need or a want? Why?
- Question 5: Look around your room. Name one need and one want that you see.
Click to reveal Teacher Answer Key
1. A need is something you must have to live, like water, food, shelter, or basic clothing. [Explained @ 0:19]
2. A want is something fun or nice to have, but not required for survival, like toys, video games, or candy. [Explained @ 1:22]
3. A need, because it protects your body from freezing temperatures. [Explained @ 1:56]
4. A want, because it’s fun for dress-up and play but doesn’t keep you safe or protected. [Explained @ 1:56]
5. Answers will vary — accept any reasonable need and want the student identifies in their own room.
Disclaimer: This worksheet was generated with AI assistance based on publicly available video content. It is intended for educational reference only. Teachers are encouraged to review and adjust questions to fit their curriculum standards before classroom use.