Goods and Services Flashcards

Kindergarten · Social Studies · Flashcards

Study the key words about goods, services, and how our economy works.

Flashcards

Goods: Physical things that are made or grown and can be bought and sold
Services: Work done by people to help others, such as teaching or fixing things
Money: Coins and paper bills used to buy goods and services
Consumer: A person who buys and uses goods or services
Producer: A person or business that makes or provides goods and services
Barter: Trading goods or services without using money
Trade: Exchanging one thing for another
Economy: The way people make, buy, and sell goods and services
Price: How much money something costs to buy
Business: A place where people sell goods or provide services to earn money
Earn: To receive money in exchange for doing work
Spend: To use money to pay for goods or services