Goods and services
A fundamental economic concept distinguishing between tangible products (goods) that can be owned and…
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28 worksheets · answer keys · full story · quiz · Ages 3-5 · CEFR A1
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Just want Goods and services?
Do you have a super-bouncy ball or a warm, fuzzy sweater. I help bring those things to you. When a grown-up makes you a yummy sandwich or a doctor helps you feel better, that’s me helping, too. I am called Goods and Services. Goods are the things you can hold, like a book or an apple. Services are the helpful things people do for each other, like a haircut or a bus ride. I am all the wonderful things and all the helpful people.
Long, long ago, before there were stores with shelves full of toys, people just traded things. If you grew lots of yummy carrots but needed a new pair of shoes, you might trade your carrots with someone who was good at making shoes. That was me, helping people share what they had. It was fun. Later, people invented something to make trading easier: money. Instead of carrying carrots everywhere, you could use shiny coins. A very smart man named Adam Smith wrote a famous book about me that came out on March 9th, 1776. He explained how everyone sharing their special skills helps make the whole world work together.
Today, I am everywhere. The farmer who grows your food is giving you a 'good'. The teacher who reads you a story is giving you a 'service'. I am all about sharing and helping each other. When you help a friend clean up toys, or share your snacks with a smile, you are a part of my amazing story, too. I help make our world a big, friendly neighborhood where everyone can help each other and get what they need to be happy and healthy.
The Story of Sharing and Helping
Do you have a super-bouncy ball or a warm, fuzzy sweater. I help bring those things to you. When a grown-up makes you a yummy sandwich or a doctor helps you feel better, that’s me helping, too. I am called Goods and Services. Goods are the things you can hold, like a book or an apple. Services are the helpful things people do for each other, like a haircut or a bus ride. I am all the wonderful things and all the helpful people.
Long, long ago, before there were stores with shelves full of toys, people just traded things. If you grew lots of yummy carrots but needed a new pair of shoes, you might trade your carrots with someone who was good at making shoes. That was me, helping people share what they had. It was fun. Later, people invented something to make trading easier: money. Instead of carrying carrots everywhere, you could use shiny coins. A very smart man named Adam Smith wrote a famous book about me that came out on March 9th, 1776. He explained how everyone sharing their special skills helps make the whole world work together.
Today, I am everywhere. The farmer who grows your food is giving you a 'good'. The teacher who reads you a story is giving you a 'service'. I am all about sharing and helping each other. When you help a friend clean up toys, or share your snacks with a smile, you are a part of my amazing story, too. I help make our world a big, friendly neighborhood where everyone can help each other and get what they need to be happy and healthy.
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A fundamental economic concept distinguishing between tangible products (goods) that can be owned and intangible actions or tasks (services) performed for others. This duo forms the basis of all economic transactions.
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