Economics in Grade 7 introduces students to the basics of trade, money, resources, and decision-making. Through inquiry learning, students ask questions about supply and demand, test ideas with classroom activities, and connect concepts to daily life. Instead of only memorizing terms, they explore how choices affect individuals, communities, and nations. Activities such as role-play markets, budgeting tasks, and analyzing case studies make economics practical and engaging. By linking theory to real-world examples, Economics becomes a way to understand how people, businesses, and governments use resources to meet needs.
🟢 Starter
- Define the word “economy.”
- List three examples of needs and three of wants.
- Explain what money is used for.
- Identify two examples of goods and two of services.
- Write three ways families spend money.
- Define the term “budget.”
- Compare saving and spending.
- Write a short paragraph on why people work.
- List three resources that are limited.
- Explain what trade means.
- Write three examples of jobs in your community.
- Define the term “market.”
- Write a reflection on why choices matter in economics.
- Compare producers and consumers.
- List three items you would include in a weekly budget.
- Explain why scarcity exists.
- Write three examples of how people earn income.
- Identify one example of opportunity cost in daily life.
- Compare needs vs wants in a short list.
- Reflect: how does economics connect to your life?
🟡 Practice
- Write a paragraph explaining supply and demand.
- Create a simple household budget.
- Research how banks help people save money.
- Compare goods made locally with imported goods.
- Write about why prices change.
- Create a chart of producers, consumers, and products.
- Write a short story about trading items with friends.
- Research how inflation affects prices.
- Compare public goods and private goods.
- Write a reflection on why governments collect taxes.
- Debate: should students receive pocket money?
- Create a poster showing three types of resources: natural, human, capital.
- Write about how advertising influences choices.
- Research how supply shortages affect communities.
- Create a role-play of a marketplace.
- Write three strategies for saving money.
- Compare the role of workers in different jobs.
- Write a paragraph about why education affects income.
- Research how trade between countries works.
- Reflect: how do economic choices shape communities?
🔴 Challenge
- Write an essay on why economics matters in everyday life.
- Debate: should governments set price controls?
- Research how the stock market works.
- Write a persuasive speech about saving for the future.
- Compare capitalism and socialism in simple terms.
- Research how global trade affects food prices.
- Write a report on child labor and economics.
- Create a project about how technology changes jobs.
- Research the importance of entrepreneurship.
- Debate: should the minimum wage be higher?
- Write a diary entry as a shop owner.
- Create a model showing supply and demand with graphs.
- Research how scarcity affects developing countries.
- Write a persuasive letter about reducing waste of resources.
- Compare economic systems in two different countries.
- Research how tourism impacts local economies.
- Create a presentation on sustainable development.
- Write about how economics connects to climate change.
- Reflect: how can young people make smart economic choices?
- Propose three new ways schools can teach economics.