Understanding Work, Income, Goods, and Services

Front

People work to earn money to buy goods and services.

Back

People work so they can buy things.

Front

The money people earn from working is called income.

Back

Income is the money earned from working.

Front

A service is something someone does for you.

Back

Cleaning a house is an example of a service.

Front

A product is something you can buy and take home.

Back

A chair and a bicycle are examples of products.

Front

Reason for going to work

Back

To earn money for fun activities and to pay bills

Front

Ways to improve earning skills

Back

By learning new things any day, By practicing the skill regularly

Front

Consequences of choosing not to work

Back

They will not have money to buy the things they need.

Front

Examples of consuming

Back

Eating food, sharpening a pencil, and buying clothes

Front

What does it mean to produce something?

Back

To make something new

Front

Making a toy for a friend is an example of?

Back

Producing