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Choices and Costs
Grade 1 - Social Studies - On Level
Worksheet 1
1What choice is being made: choose one library book?
2What benefit comes from choosing to use blocks for a bridge?
3What is given up when someone chooses to spend 5 tickets on a pencil?
4Which resource is limited in this choice: spend 5 tickets on a pencil?
5Which sentence explains the cost of the choice?
6What choice is being made: buy a banana with snack money?
7What benefit comes from choosing to use recess time to water plants?
8What is given up when someone chooses to use recess time to water plants?
9Which resource is limited in this choice: use blocks for a bridge?
10Which sentence explains the cost of the choice?
About this worksheet
Economic choices begin with a simple truth: people cannot always have every option at the same time. First graders can understand this through familiar situations such as spending classroom tickets, choosing a snack, saving time, or sharing materials. This worksheet asks children to identify a choice, name a cost, choose a benefit, and explain a trade-off. The goal is not adult financial vocabulary. It is the early reasoning behind D2.Eco.3.K-2: people make choices because resources are limited, and every choice may mean giving up another option. Support pages use clear either-or decisions. Standard and challenge pages include time, space, or money limits, but the scenarios remain concrete. Ask children to say, 'If I choose this, I give up that,' before marking the answer.
What your child will learn
Identify an economic choice
Name a cost or trade-off
Connect benefits to decisions
Reason from limited resources
Worked example
If Maya spends 5 tickets on a pencil, she cannot use those same tickets for a sticker. The sticker is the trade-off.
Common mistake
Thinking cost only means money, even when time, space, or materials are limited.
Worksheet 1