Economics for Kids: Goods and Services

The video introduces the concepts of goods and services in economics for kids. It explains the difference between needs and wants, and how people earn money by selling goods or providing services. Examples of goods and services are provided, and viewers are encouraged to differentiate between the two. The video concludes with a call to explore more resources from Teaching Without Frills.

Which of the following is considered a need?

• Shelter

• Games

• Candy

• Toys

What is the primary way people earn money?

• By borrowing

• By working

• By winning lotteries

• By finding treasure

Which of the following is an example of a good?

• A medical check-up

• A haircut

• A flight

• A computer

What service does a librarian provide?

• Writing books

• Helping find books

• Selling books

• Printing books

If someone delivers pizza to your house, what are you paying for?

• A good

• A service

• A subscription

• A membership