Goods & Services

Front

What is a market?

Back

A place where buyers and sellers come together to exchange goods and services.

Front

What are goods?

Back

Items that can be bought, sold, and traded, such as food, toys, and computers.

Front

What are services?

Back

Actions or activities that one person does for another, such as teaching, cleaning, or repairing.

Front

Who is a producer?

Back

A person or business that makes or sells goods or provides services.

Front

Who is a consumer?

Back

A person who buys and uses goods and services.

Front

What should you do before buying a product?

Back

Look at a few stores and compare prices.

Front

Give an example of a good.

Back

A toy, a book, or a piece of fruit.

Front

Give an example of a service.

Back

A haircut, a car wash, or a tutoring session.

Front

What is the difference between goods and services?

Back

Goods are physical items, while services are actions performed for someone.

Front

What does it mean to trade?

Back

To exchange one good or service for another.