Understanding Goods and Services

What is a good?

• A type of service

• An item you can see and touch

• A person who buys things

• A place where you shop

Name a service that you might use.

• A pencil

• A haircut

• A car

• A book

Why do producers often build their businesses near the things they need to make goods?

• To save money on transportation

• To make their goods more expensive

• To sell more goods

• To hire more workers

What is a consumer?

• A person who makes goods

• A person who uses goods and services

• A person who sells goods

• A person who imports goods

What is one reason to buy local products?

• They are always cheaper

• They support local businesses

• They are imported

• They are always better quality

What does "rely" mean?

• To ignore

• To depend on or trust

• To sell

• To buy

What happens now when you want something from far away? How long does it take to get it?

• It takes weeks to arrive

• It arrives instantly

• It can arrive in a few days

• It never arrives

What is an import?

• A good made locally

• A good brought in from another country

• A service provided locally

• A service exported to another country

What is something in your house that you think is imported? Why?

• A locally made chair

• A toy made in another country

• A homemade cake

• A plant from your garden

What is an export?

• A good sent to another country

• A good bought from another country

• A service used locally

• A service imported from another country