Your student should complete this activity with adult involvement at home or in your community.

Saving:

• Help students identify and item they would like to save for.  Formulate a plan together to accomplish that goal.  If possible, take your student to the financial institution to open a savings account.

Insurance:

• With your student, identify some valuable family possessions. Discuss what would happen in case of a fire or flood. Explain and discuss how insurance protects against losses.

Supply and Demand:

• Set up a situation or role play a situation where an item is in high demand.  An example is when there is only one cookie left in the cookie jar, everyone wants it.  Explain that the demand is high, supply is low, so the value of the cookie increases.

Entrepreneurship:

• Help students identify people in their life who are entrepreneurs.  Discuss the pros and cons of being an entrepreneur.

Scarcity and Choices:

• Assist student in determining an item in their school, classroom, or home that is scarce and identify choices that have to be made because of the scarcity.  For example, if scissors are scarce in their classroom, students may need to choose a different activity until scissors are available.