Subscribe

1st grade · Social Studies · Unit 7 of 10

Earning, Saving & Sharing

How families earn, choose, save and trade.

What your child practices

Practices how people earn income, why families save, sharing and bartering, choosing between needs and wants, and natural, human and capital resources.

Maine Learning Results learning standard: Personal Finance; Economics · spending, saving and sharing as ways to use money, and making choices with scarce resources

How we explain it

Children can open this short lesson before they practice.

  1. People earn money by working.
  2. A consumer buys things. Saving is keeping money for later.
  3. We make choices when we can't have everything.

Example: Lena puts money in her piggy bank. She is… She does not spend it now. Keeping money for later is saving. Answer: saving

Earning, Saving & Sharing in Maine

In the Maine Learning Results, this is unit 7 of 10 in 1st grade Social Studies, after Community Services and before School & Travel Long Ago.

Gradelings describes a child's practice on this unit as Beginning, Approaching, Meeting or Exceeding (Four practice steps). That reflects practice, not a report-card mark: the teacher decides the mark.

Source: Maine Department of Education

Sample questions

A taste of this unit. In the app, questions change every time and get easier or harder to match your child.

  1. Question 1

    Maya buys a snack and has no money left for a book. She made a…

    • choice
    • map
    • law

  2. Question 2

    Which family resource helps them get food?

    • a toy box
    • money from work
    • a rainy day

  3. Question 3

    A hammer used to build a house is a…

    • natural resource
    • person
    • tool

  4. Question 4

    Ana uses all her money on candy. Later she needs crayons. What happened?

    • the candy became crayons
    • she got free crayons
    • she had no money left

  5. Question 5

    Which one is a natural resource from forests?

    • plastic toys
    • a computer
    • wood

  6. Question 6

    Why do people put money in a bank?

    • to keep it safe and save
    • to feed it
    • to make it disappear

More 1st grade