Exploring Goods, Services, and Trade

What is an explorer?

• A person who stays in one place

• A person who travels to new places to learn about them

• A person who only reads about new places

• A person who builds houses

What is the main purpose of an explorer's route?

• To find the shortest way to school

• To discover new lands and paths

• To avoid all water bodies

• To visit friends and family

What is barter?

• Trading goods and services without using money

• Buying things with coins

• Saving money in a bank

• Selling goods for a profit

What is the difference between goods and services?

• Goods are things you can touch, services are actions people do for you

• Goods are actions, services are things you can touch

• Goods are always free, services always cost money

• Goods are only food, services are only cleaning

Who is a consumer?

• Someone who makes goods

• Someone who buys and uses goods and services

• Someone who sells goods

• Someone who grows food

Who is a producer?

• Someone who buys goods

• Someone who uses services

• Someone who makes or provides goods and services

• Someone who only consumes goods

Tags

NGSS.MS-LS1-6

NGSS.MS-LS2-3

What happens when supply is greater than demand?

• Prices go up

• Prices go down

• There is a shortage

• Everyone gets what they want

What happens when demand is greater than supply?

• Prices go down

• Prices stay the same

• Prices go up

• There is no change

Why do people use money instead of bartering?

• Money is heavier to carry

• Money is easier to exchange and store

• Bartering is more fun

• Money is less valuable

What is a motive for exploration?

• To stay at home

• To find new resources and trade routes

• To avoid learning new things

• To only visit known places