Making Choices with Money Homework

4th Grade Social StudiesEconomics4 pages

About this worksheet

A family interview sits at the center of this 4-page 4th grade economics homework. Part 1 gives students $20 and three options: a building block set, a day at the water park with a friend, or saving toward a $60 video game. They write a benefit and a cost for each, choose one, and name their opportunity cost. Part 2 has them interview an adult about a recent choice involving money or time. Part 3 is a savings plan for something they want. It meets C3 Framework D2.Eco.1.3-5, and the answer key gives example responses.

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Curriculum objectives covered

D2.Eco.1.3-5

โ€œCompare the benefits and costs of individual choices.โ€

Part 1 has students compare the benefits and costs of three uses of $20, and Part 2 applies the same comparison to a real family choice.

What's inside this worksheet

The $20 Dilemma

Questions 1 to 6 fill a benefits and costs table for options A, B, and C. Question 7 asks which option students choose and why, and question 8 asks for their second choice as the opportunity cost.

Family Interview

Questions 9 to 14 record who was interviewed, the choice, its benefits, its costs, the opportunity cost, and the answer to "Are you glad you made this choice?"

My Savings Plan

Questions 15 to 18 ask for a savings goal, its rough price, one benefit of waiting, and the small treats students would give up.

Answer Key

Example rows for all three options, a water park choice with the block set as opportunity cost, and a $45 skateboard savings plan.

How teachers use it

Send it home Friday

Part 2 needs time with an adult, so a weekend gives families room. Collect it on Monday or Tuesday.

Money-sensitive homes

Part 2 allows a choice about time as well as money, such as choosing a weekend activity. Point that out in your note home so no family feels pressed to talk about spending.

Share the answers

Question 14 answers make a good morning circle. Students report whether their adult was glad about the choice, and the class names the opportunity cost.

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