Skip to content Skip to navigation Skip to collection information

OpenStax-CNX

You are here: Home » Content » Life Skills Grade 1 » MONEY

Navigation

Recently Viewed

This feature requires Javascript to be enabled.
 

LIFE SKILLS

Grade 1

MONEY MONEY!

Module 6

MONEY

Figure 1
Figure 1 (graphics1.jpg)

We need money for different things. Draw eight examples of products that mom or dad must buy with money.

Figure 2
Figure 2 (graphics2.jpg)
  • Write a sentence to explain where you would use your money, or what for.

This is what our money looks like!

Figure 3
Figure 3 (graphics3.png)
  • Place real coins underneath the page.
  • Scratch with your pencil on the paper.
  • What happens?
  • Tell your friends what you see!
Figure 4
Figure 4 (graphics4.jpg)

I am the consumer

  • Take a good look at all the pictures. Which of these products or services are used in your home every day? Colour those pictures.
Figure 5
Figure 5 (graphics5.jpg)
Figure 6
Figure 6 (graphics6.jpg)

This is how my family earns money

  • In each block draw one of your family members busy earning money.
Figure 7
Figure 7 (graphics7.jpg)

  • Colour these pictures.
  • Choose which products you would like to buy with your money.
Figure 8
Figure 8 (Picture 32.png)

Assessment

Table 1
Learning Outcomes(LO’s)
EMSLO 1
THE ECONOMIC CYCLEThe learner will be able to demonstrate knowledge and understanding of the economic cycle within the context of ‘the economic problem’.
We know this when the learner:
1.1 recognises the roles of members of the household as consumers (e.g. saving, buying);1.2 identifies different advertising media influencing needs and wants;1.3 identifies the value of the different units of money used to buy things;1.4 starts understanding that goods (e.g. clothes, food) and services (e.g. electricity) have a price;1.5 identifies ways in which income is earned through members of the household who are working (e.g. parents working, earning pocket money).

Memorandum:

This module deals with money and its importance. It may be a good idea to link the module to Mathematics, and learners should have ample opportunity to work with money and solve money-related word problems.

  • Discuss why we need money. Learners must explain the importance of money in our every day lives. Help them to distinguish between products and services. Sometimes one needs money to buy a particular product, and sometimes one needs it to obtain a service.

Task: Draw pictures and write a sentence to illustrate everyday situations where money is used.

  • Explain to the learners what a consumer is. They must understand the fact that we are all consumers in different ways. We all purchase different products and services. Even if we do not purchase a certain product/service ourselves, we may still use it. Being a consumer brings certain responsibilities. We must not let food go to waste, should use products sparingly and should recycle waste materials. What is one’s responsibility when one consumes these products and services?
  • Learners have now become aware of the necessity of money in our daily lives. We need it to purchase essential products and services. The question is: how do we get money? Learners do not always understand that money is earned and that parents have only a certain amount available. Perhaps learners think that their parents get money from the bank or the ATM. Explain to them that their parents have to work in order to earn a salary. Without money no products or services can be bought. Allow learners to explain how they earn money as a family, e.g. their parents that work, money they earn themselves through chores at home, or by receiving pocket money from their parents. Learners must also learn to use the money they earn responsibly
  • Give each learner a little bag/purse of money’ (it could be paper money). They must count the money in the purse and then decide which product(s) they would like to buy. They may of course decide to ‘save’ some of the money, but they may not exceed the given amount. They must stick these in the supermarket trolley on page 7.
  • Explain to them the difference between products/services that we need and those we want. You need food, but you do not necessarily need shoes. Also discuss advertisements. Point out to them that businesses use advertisements to convince us that we really need something (even if we don’t) so that we may buy their products. Let them bring examples of advertisements to class and let them explain why they would like to buy a particular advertised product.
  • Let them play ‘shop’ in class. For this purpose they must have empty marked containers on a shelf, with a price list. They then ‘buy’ each other’s products. It could be fun to have a ‘bank’ where they could ‘draw’ money.

Collection Navigation

Content actions

Download:

Collection as:

PDF | EPUB (?)

What is an EPUB file?

EPUB is an electronic book format that can be read on a variety of mobile devices.

Downloading to a reading device

For detailed instructions on how to download this content's EPUB to your specific device, click the "(?)" link.

| More downloads ...

Module as:

PDF | More downloads ...

Add:

Collection to:

My Favorites (?)

'My Favorites' is a special kind of lens which you can use to bookmark modules and collections. 'My Favorites' can only be seen by you, and collections saved in 'My Favorites' can remember the last module you were on. You need an account to use 'My Favorites'.

| A lens I own (?)

Definition of a lens

Lenses

A lens is a custom view of the content in the repository. You can think of it as a fancy kind of list that will let you see content through the eyes of organizations and people you trust.

What is in a lens?

Lens makers point to materials (modules and collections), creating a guide that includes their own comments and descriptive tags about the content.

Who can create a lens?

Any individual member, a community, or a respected organization.

What are tags? tag icon

Tags are descriptors added by lens makers to help label content, attaching a vocabulary that is meaningful in the context of the lens.

| External bookmarks

Module to:

My Favorites (?)

'My Favorites' is a special kind of lens which you can use to bookmark modules and collections. 'My Favorites' can only be seen by you, and collections saved in 'My Favorites' can remember the last module you were on. You need an account to use 'My Favorites'.

| A lens I own (?)

Definition of a lens

Lenses

A lens is a custom view of the content in the repository. You can think of it as a fancy kind of list that will let you see content through the eyes of organizations and people you trust.

What is in a lens?

Lens makers point to materials (modules and collections), creating a guide that includes their own comments and descriptive tags about the content.

Who can create a lens?

Any individual member, a community, or a respected organization.

What are tags? tag icon

Tags are descriptors added by lens makers to help label content, attaching a vocabulary that is meaningful in the context of the lens.

| External bookmarks