Economy
Primary 4 · Social and Religious Studies
Economy
Lesson 1 of 5
12 min
Gatete's uncle gives him 1,000 Frw. Gatete runs to the shop, thinking of sweets and a shiny toy car. On the way, his mother calls: "Gatete, remember your exercise book is full. You need a new one for school tomorrow!" Gatete stops. He cannot buy everything. What should he choose?
Needs are the things we must have to live and stay healthy. Without them, life is hard or even dangerous.
Wants are things we would like to have. They make life more fun or comfortable, but we can live without them: sweets, soda, toys, video games, a television, fashionable shoes.
| Need | Want |
|---|---|
| A pair of shoes for school | A third pair of fancy shoes |
| Clean drinking water | A bottle of soda |
| Beans, bananas and vegetables | Biscuits and sweets |
| A school uniform | A football shirt of a famous team |
People's wants never end. As soon as you get one thing, you want another! But money is limited. So we must choose. A wise person pays for needs first, and only then for wants. Putting things in order of importance is called setting priorities.
That is why Gatete buys the exercise book first. With the money left, he can think about the sweets.
Tip
Ask one question: "Can I live and stay healthy without it?" If the answer is no, it is a need. If the answer is yes, it is a want.
Answer: Something we must have to live and stay healthy, such as food, water, shelter or clothing.
Answer: A want. We can live without it.
Answer: Any four of: food, clean water, shelter, clothing, health care, education, security.
Answer: Because wants never end, but money is limited.
Answer: The medicine, because health care is a need and the radio is a want.
What you learned today
Sources and credits
Written by Ganzaa.
Quick check
Gatete has 1,000 Frw, and his exercise book for school is full. What should he buy first?
