Goods vs Services

What is a need?

• Nothing

• Something you have to have to live

• Something you would like to have

• Ice cream

What is a want?

• A person
• Something you would like to have but don't need to live
• Purple
• Something you need to live

Tags

CCSS.RI.2.2

CCSS.RI.3.2

CCSS.RL.2.2

CCSS.RL.3.2

CCSS.RL.4.2

What is a good?

• A need
• A baseball game
• Things people do for money
• Things that people make or grow

What is a service?

• Buying a hat at the store

• Something you do for another person

• A bottle of water

A person who uses and buys goods and services 

• money 
• producer 
• consumer 
• economics 

A person who makes goods or provides a service 

• goods 
• service producer 
• producer
• consumer 

Which of the following is not a good?

• Clothes
• Food
• Dog Walker
• Toys

Which of the following is not a service?

• Dry Cleaner
• Car Wash
• Clothes
• Babysitter

Things we buy that we can touch or hold

• services
• opportunity cost
• goods
• natural resources

Things that were not made by humans and are found in nature

• natural resources
• human resources
• capital resources
• services