Goods vs Services

This is a _______

• Good

• Service

This is a _______

• Good

• Service

This is a _______

• Good

• Service

This is a _______

• Good

• Service

How are goods different from services?

• Goods are physical, tangible products, while services are intangible actions or tasks.

• Goods are actions, while services are products

Goods or services brought into a country.

• miraculously

• murmured

• imported

• gallantly

What are goods?

• Goods are intangible services that cannot be bought or sold.

• Goods are tangible products that can be bought and sold in the market.

Put the words in the correct blank.

a

b

c

d

consumer

service

producer

good

When you buy candy, go to the movies, eat in a restaurant or get your teeth cleaned by a dentist, you are a ______

• Consumer

• Producer

Why do people need goods and services?

• People need goods and services to cause scarcity in the market.

• People need goods and services to satisfy their wants and needs.