Money Smart Quiz: Weighing Needs & Wants

Grade Level: Kindergarten (Pre-K–2)

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Multiple Choice Questions

1. What is a "need"?
A. Something you would like to have but could live without
B. Something you must have in order to live a healthy life
C. A toy you want for your birthday
D. A game you play at recess

2. What is a "want"?
A. Something you must have to live a healthy life
B. Something you would like to have but could live without
C. Food, water, and shelter
D. Clothes

3. Which of these is an example of a NEED?
A. Video games
B. Candy
C. Water
D. Toys

4. Which of these is an example of a WANT?
A. Shelter
B. Food
C. Clothes
D. Ice cream

5. On the class chart, which item was listed under "Things We NEED for Our Classroom"?
A. Stickers
B. Markers
C. Pencils
D. Toys

**6. In the story Bunny Money, who are the main characters looking for a birthday present?**
A. Sam and Ruby
B. Max and Ruby
C. Dyamonde and Max
D. Lily and Sam

**7. In Almost Zero, what does Dyamonde really want?**
A. A new toy
B. A pair of red high-top sneakers
C. A birthday present for grandma
D. Lucky money

8. What handout helps students practice sorting needs and wants by drawing or writing about their own items?
A. Chart: Needs and Wants
B. Definitions: Needs and Wants
C. My Needs and Wants Mini-Book
D. Story Problems slide

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Short-Answer Questions

9. Name one thing you need and one thing you want.

10. Why is it sometimes hard to get everything we want? Explain in your own words using what you learned about needs and wants.

11. If you could only choose one item from a list of things you want, how would you decide which one to pick?

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Answer Key

1. B
2. B
3. C
4. D
5. C
6. B
7. B
8. C
9. Answers will vary — should include a valid need (e.g., food, water, shelter, clothes) and a valid want (e.g., toys, candy, ice cream, video games).
10. Answers will vary — should reflect the idea that we must sometimes choose between needs and wants, or between multiple wants, because we can't have everything.
11. Answers will vary — should reflect prioritizing (first, second, third choice) and explain what affected their choice.