Post on 23-Jan-2018
Tuning In!
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A poem:A poem:Toys For Me!Toys For Me!
© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
A poem:A poem:Toys For Me!Toys For Me!
Teacher: Read words in blackStudents: Read words in red
© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
On my birthday I askedMy Mother to buyThis baby doll that
burps
AND that wooden bird that chirps.
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“NO!” was her replyWith that glint in her eye“But you may choose this
doll that burpsOR that wooden bird that
chirps.”© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
Are they needs?Are they needs?© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
Mother gave a grinShe pinched my girlish chinShe squeezed my crusty noseUntil I wiped it on my clothes.
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She said, “Time and moneyWill always make you CHOOSE
Remember: this OR thatIt’s a rule you mustn’t lose.”
© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
Mother shook her head,“Now Scarcity, you know I said
You may choose between this bikeOR that shiny kite you like.”
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Are they needs?Are they needs?© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
Mother softly said“Do you think that toys are free?That toys grow like leaves on a MAGIC TREE?
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This AND that -The world can never be.
It’s this OR that -Can’t you see?”© 2012 Citi-NIE Financial Literacy Hub for
Teachers, All Rights Reserved
© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
Are they needs?Are they needs?© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
Well...I saw Mother wink at the big black clock
That was hanging on the wall singing tick-tick tock
And then, I’m not kidding, the clock began to talk
It said, “Refuse to choose and you will LOSE!”
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Pouting, I was sent to my room for a spellI guess to be punished for my childish yellBut after an hour I was happy to see…In my room, growing tall, was a giant magic tree.
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The tree pierced the roof. My room was filled with sunny light
I grabbed a lowly branch and climbed up to the leaves.
What a FEELING!How AMAZING!
Toys began to sprout, just like leaves.
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Toys beyond my WILDEST dreams
-Pretty dolls, lots
of balls, and super toy machines.
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Toys, toys, the tree was filled with toysLots of toys, like big bright bikesAnd other things that make loud noise.
I squeezed the dollsI hugged a ballI stroked the trucksI loved them all.Then balanced on my toes with poiseI quickly started plucking toys.To reach every limb I used a broomI picked my toys by the sun, then the moonNot once did I use my time to choose -I was busy throwing every toy, on the floor inside my room.
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Finally, I reached the tree’s tip-top
And grinning, there on top, was that big black clockIt made not a
sound - not one tick-tick tockFor time had
stoppedWhat a tick-tick
SHOCK!© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
The clock smirked and said: “I don’t like to fuss
But Scarcity, dear girl, your time is upThis OR that - this rule you did abuseBecause you would not choose, it’s time
for you to lose.”© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
I grabbed that clock; it was such a brat
Then I whacked it HARD, with the broom
as a batI screamed,
“NO MORE RULESNO MORE THIS OR
THAT!”Silence, then a sigh -
the clock was gone like a snap.
© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
Now that there were no more toys on the treeI climbed down, quickly, feeling fine and free
For there was no more clock to beA source of time to punish me.
Besides, I had toys in my room to see.© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
I heard my Mother’s voice
With Christmas cheer, she called my nameI was relieved; she looked the same.
And that black clock?It looked real swell
And the sound of time made me feel well.
© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
Such a special ChristmasI hugged Mommy – what a saint
I got to CHOOSECHOOSE the perfect gift …It was the bike, without complaint © 2012 Citi-NIE Financial Literacy Hub for
Teachers, All Rights Reserved
What do you think SCARCITY is?Raise your hands to get chosen to answer this question!
(A) The state of being scared.(B) The state when things are
sacred.(C) The state of something being
insufficient (not enough).© 2012 Citi-NIE Financial Literacy Hub for
Teachers, All Rights Reserved
SCARCITY
Time Money© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
Why do you think you have to make CHOICES?Raise your hands to get chosen to answer this question!
(A) Because of scarcity.(B) Because we have a lot of things.(C) Because opportunity cost occurs. © 2012 Citi-NIE Financial Literacy Hub for
Teachers, All Rights Reserved
CHOICESFor example, if you only have $2,
And you want to buy a sandwich AND a teddy bear…
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CHOICES
$2$2
But each of them costs $2!That’s not enough money to buy BOTH!Make a CHOICE!
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Activity B:Identifying Opportunity Costs
Hand out the plain A4 papers.
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Activity B:Identifying Opportunity Costs
Using a ruler, draw 2 lines onto the paper:
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Activity B:Identifying Opportunity Costs
Number the rectangles…
1 2
3 4
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Activity B:Identifying Opportunity CostsIn RECTANGLE 1, write down…
ScarcityChoiceOpportunity Cost
1
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Activity B:Identifying Opportunity Costs
READ THE WORDS OUT LOUD!
ScarcityChoiceOpportunity Cost
1
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Activity B:Identifying Opportunity CostsIn RECTANGLE 2, write down…
5 – 10 activities you want to do with the friend on your LEFT eg. swimming, shopping…
2
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Activity B:Identifying Opportunity CostsSadly, time and money is scarce
Your friend only has enough time and money to do 3 activities on
your list!Get him/her to choose and circle 3
favourite activities inRECTANGLE 2.
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Activity B:Identifying Opportunity Costs
In RECTANGLE 2, circle…
2
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Activity B:Identifying Opportunity Costs
Write down the 3 activities in RECTANGLE 3:
ExampleSwimming
CyclingWatching A Movie
3
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Activity B:Identifying Opportunity CostsSadly, time and money is scarce
Unfortunately, at the last minute your friend can only do 1 activity
with you!You will have to choose the activity
you want to do the most!© 2012 Citi-NIE Financial Literacy Hub for
Teachers, All Rights Reserved
Activity B:Identifying Opportunity Costs
RANK the activities in RECTANGLE 3:
3 ExampleSwimming
CyclingWatching A Movie 1
23
1: Something you want to do THE MOST
3: Something you want to do THE LEAST
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Activity B:Identifying Opportunity CostsIn RECTANGLE 4, write down…
OPPORTUNITY COST3 Example
SwimmingCycling
Watching A Movie 1
23
© 2012 Citi-NIE Financial Literacy Hub for Teachers, All Rights Reserved
Activity B:Identifying Opportunity Costs
In RECTANGLE 4, write down…the 2nd best activity (this is your Opportunity Cost)!
OPPORTUNITY COST3 Example
SwimmingCycling
Watching A Movie 1
23
ExampleSwimming2
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Activity B:Identifying Opportunity Costs
Flip to the back of the paper and write down…
My favourite activity was __________.
My opportunity cost was _________ because that was activity was my NEXT best choice.
Read this statement out loud! © 2012 Citi-NIE Financial Literacy Hub for
Teachers, All Rights Reserved
Activity A:
Hand out ONE Sheet to EACH
Student as Homework
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