Goods and Services

What is a good?

• Something we have to have to live

• Something someone does for us

• something that is made or grown

What is a service?

• Something that is made or grown

• Something that someone does for us in return for money

• something we need to live

What is a need?

• Something we have to have to live

• Something that we don't have to have to live but it would make us happy

• Something that is made or grown

What is a want?

• Something that we don't have to have but it would make us happy

• Something we need to live

• Something that is made or grown

What do people use to buy things?

• A computer

• your toys

• money

How are goods and services the same?

• People buy both goods and services with money

• both goods and services are things you can touch

• both goods and services are things people do for you

An example of a service that you can buy with money is

• food

• hair cut

• clothes