Economics, 4–6 years — 20 topics · MyLeoNes™ Kuks
20 economics topics written for 4–6 years — not a older text simplified. In teaching order, each a deck of five cards: the idea, why it exists, a worked example, the common trap and where you meet it.
Economics · 4–6 years
Needs and wants
Some things keep us safe and well; other things are lovely but not necessary. Telling them apart helps us choose.
Choices with limited resources
There are only so many minutes, objects and coins. When we choose one possibility, we may have to leave another for later.
Money and prices
Money is a shared way to pay for things. A price tells us how many coins or notes are needed for one item.
Saving for later
Saving means keeping some money instead of spending it now. Small amounts can join together to reach a future goal.
Goods and services
Some things are objects we can hold, while others are helpful actions someone does for us.
Work and jobs
People use their time and skills to make things, solve problems and help others; a job is one organised way of doing this.
Trading and exchanging
An exchange happens when each person gives something and receives something they value more at that moment.
Shared resources
Some useful places and things belong to everyone in a group, so people share them and look after them together.
Advertising and choices
Advertising is a message made to make us notice something and perhaps choose it. It can be useful information, but it is also trying to persuade us.
Borrowing and returning
Borrowing lets someone use a thing or money now and give it back later. It can help when the need comes before the return is possible, but it creates a promise to remember.
Money for the community
People sometimes put money together so a whole community can pay for things everyone uses. This helps with shared services such as street lights, parks or firefighters.
Reuse and value
A thing may still be useful after its first owner no longer needs it. Reusing, repairing or passing it on can keep its value and avoid using new materials for no good reason.
Fair shares
When several people want the same small amount, a fair share helps everyone receive a reasonable part.
Making things needs resources
A thing does not appear by itself: people use materials, tools, time and effort to make it.
From maker to shop
Many things travel through several steps before reaching the person who uses them.
When availability changes
When there is more or less of something people want, finding it and choosing its price can change.
Change after paying
When we pay more than the price, the shop gives back the difference. Learning to find change helps us check that a payment is fair.
Receipts help us check
A receipt is a small record of a purchase. Reading it helps us remember what was bought, what it cost and whether the payment was correct.
A seller must cover costs
The money a seller receives is not all a gain. First, some of it pays for the materials and other things needed to make or offer the item.
A lasting item can be better value
The lowest price is not always the best value. How long an item works and how often it must be replaced can matter too.
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