Economics for kids: Goods and Services
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Subject Area: Social Studies | Grade Level: K
Lesson Length: 15 minutes or less
Keywords/Tags: Goods, Services, Money
Lesson Description: In this lesson, students will learn what goods and services are and be able to differentiate between the two.

  • Other SSKE3 Explain how money is used to purchase goods and services.rna. Distinguish goods from services.rnb. Identify that U.S. coins and dollar bills (paper money) are used as currency
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Video : Economics for Kids: Goods and Services
Instructions: Please watch the following video as many times as needed before starting to go through other lesson pages. Understanding the content of the video is very important since the lesson activities will be all about this video content.Please watch the following video as many times as needed before starting to go through other lesson pages. Understanding the content of the video is very important since the lesson activities will be all about this video content.")
Description: In this economics video, you will learn the difference between goods and services!
Resources : Goods and Services, Wants and Needs
Instructions: Please see additional external resources below. Feel free visit each link to learn more about this lesson.
Goods and Services

Curious George Takes a Job
Click on the link that says, "Curious George Takes a Job"
Brainpop Jr. Goods and Services

Goods and Services 2

Description: Listed Below are some online games that students can play related to goods and services and wants and needs.
Quiz : Economics for Kids: Goods and Services, Wants and Needs
Instructions: Please complete this quiz by choosing the correct answer for each question. You can take this quiz as many times needed.
Question #1

What is a good?

Question #2
A haircut is a good.
Question #3
Is a candy bar a good?
Question #4

What is a service?

Question #5
Paying someone to paint for you is a service.
Question #6
Is a hamburger a service?
Question #7

_________ are something people must have to survive.

Question #8

Which option below is an example of a need?

Question #9
A want is something you would like to have.
Question #10

Which is an example of a want?

Description: This quiz combines multiple-choice, fill-in-the-blank, and true or false questions to assess your understanding of needs and wants and goods and services.
Forum : Needs and Wants
Instructions: This discussion forum will have questions for students to respond. Read the posted questions, and respond to each. Students are responsible for posting one initial and and two peer responses for each topic.
Grocery Store Visit
If you only have $25 to get what you need for the week, what goods/services would you buy?
Description: Students will answer a question related to scarcity. You can't have everything you want, so you have to make choices. In this case, money is scarce.