Consumers and Producers 21

What is a market?

• where producers sell and consumers buy

• where producers buy and consumers sell

• where you go to have your car fixed

• where you go in town for lunch

Where is a local market?

• far away

• in another country

• in another state

• close to you

What happens when two or more producers sell the same thing?

• They all work together.

• They compete.

• They go to school.

• They move away.

Ellie went to the market. She likes to make the best deals possible. Mr. Green sells bread for $2. Mrs. Little sells bread for $1. Mrs. Sunshine sells bread for $3. Which one will Ellie buy?

• Mr. Green's bead

• Mr. Peter's bread

• Mrs. Little's bread

• Mrs. Sunshine's bread

Two people have goods. They change one for the other. They do not buy the goods with money. This is called _____________.

• market

• trade

• competition

• goods

They buy goods and services.

• consumers

• producers

• traders

They make and sell goods and services.

• consumers

• producers

• traders

These are the things that we buy.

• services

• trades

• goods

These are actions or jobs that producers do.

• goods

• services

• trades