Exploring Goods and Services for Kids

The video tutorial introduces the concepts of goods and services in economics. It explains that goods are tangible items that satisfy people's wants, while services are actions performed by others to fulfill needs. Examples of both are provided, followed by a quiz to help differentiate between them. An interactive activity encourages students to draw and write about goods and services. The lesson concludes with a song to reinforce the learning.

What are goods?

• Things that people do for us

• Things that satisfy people's wants

• Things that people dislike

• Things that are intangible

Which of the following is an example of a good?

• A sandwich

• Serving food

• A haircut

• Teaching

If you are cold, which good would satisfy your want?

• A pencil

• A coat

• A chair

• A sandwich

Which of the following is NOT an example of a good?

• Pencils

• A haircut

• Scissors

• A bed

What is a service?

• Things that are tangible

• Things that people use

• Things that satisfy people's wants

• Things that people do for us

What service does a hair stylist provide?

• Teaching students

• Cutting hair

• Bringing food

• Selling goods

What service does a waiter provide?

• Selling goods

• Cutting hair

• Teaching students

• Bringing food

Is a book a good or a service?

• Service

• Both

• Good

• Neither

Is reading a book to children a good or a service?

• Good

• Neither

• Service

• Both

What should you do after drawing a picture of a good or service?

• Color it

• Show it to a friend

• Erase it

• Write a sentence about it