Get students' attention by displaying a mixture of pictures on the board. Display images such as video games, candy, toys, clothing, fruits, vegetables and a house. Other pictures can also be displayed. The idea is to have a mixture of things that are needs and wants.
Tell students to pick out one image from the board they would like to have. Tell the students to hang on to the picture while you begin the lesson.
Ask students why they chose the images they did. Some students may say they like the picture they chose and some students may tell you they picked their picture because they need it for some reason. When students begin repeating the pattern of discussing that they like something versus believing they need something begin a discussion about needs versus wants.
Define needs. According to Social Studies for Kids, a need is something you have to have. Give examples of needs such as food, water and shelter. These are the main things people need to survive. Other things fall into the category of what you need to take care of business. Adults need gas to fuel their cars so they can get to work. Students need pencils, paper and other school supplies to do their jobs at school.
Define wants. Explain that wants are things you like to have but you don't need to survive or take care of business. A want is something you can live without even if you really like it a lot. Give examples such as having a bicycle, jewelry or going to see a movie.
Give students a moment to think about the items they picked. Tell them to think about whether their item is a need or want. While they do this, divide the board into two sections using a marker. Write "Needs" on one side and "Wants" on the other. When students have made their decisions, check student understanding by asking them to tape their picture on the correct side of the board. If necessary, restate what constitutes a need and what constitutes a want. By the end of the activity, the pictures should be sorted correctly.