Understanding Goods and Services

Front

What is a good?

Back

Something you can touch and buy

Front

Who is a consumer?

Back

Someone who buys and uses goods.

Front

What is a service?

Back

A job someone does for you

Front

Who is a producer?

Back

Someone who makes goods or provides services

Front

What does it mean to save money?

Back

To keep money for later

Front

What does it mean to spend money?

Back

To use money to buy things

Front

Which of the following is an example of a good? A haircut, A toy car, A dance lesson, A song

Back

A toy car

Front

Which of the following is an example of a service? A book, A sandwich, A car wash, A pair of shoes

Back

A car wash

Front

If you buy a toy, what are you doing?

Back

Spending money

Front

If you put your money in a piggy bank, what are you doing?

Back

Saving money