Goods and Services
Tell students today in class they will be competing with
fellow classmates in a game involving how we spend
Students will be able to describe five goods they would
like to buy at a local store and explain why they would
buy those items.
Students will be able to state five services that their
teacher provides for them. They will also be able to
name other ways these services might be provided if
their teacher did not provide them.
Ask children to name things they buy at the store/mall.
List them on the board. Once a list has been made, ask
children to think of existing similarities among the items.
Tell them you are looking for a term to describe all of the
items they have listed. The term we are looking for is
goods. Ask students to explain what makes a good.
Remind them that goods are tangible. Encourage
students to name a variety of different goods.
Now switch tracks and ask students if they can think of
other ways people spend their money. However, this
time no tangible object is received in the exchange. To
get them thinking, ask what they get when they go to the
doctor or dentist. This is a service. A service is
something that can't be touched, but is of value to us.
Have children think of more examples to list on the
Checks for Comprehension:
Hand out two slips of paper to each child. Have each
student write a good on one slip of paper and a service
on the other. Encourage the students to be creative.
Collect the slips and put them into a bowl. Divide
students into two groups. Have each team take turns
sending individuals to the board to draw the good or
service they choose from the bowl. Teams receive
points for guessing whether the drawing is a good or
service before time expires.
Review with children the differences and characteristics
of goods and services.