Goods and Services Flashcards

Grade 2 · Social Studies · Flashcards

Key vocabulary about goods, services, and the economy for 2nd grade Social Studies.

Flashcards

Goods: Physical items you can touch and own, like food, clothes, or toys
Services: Actions people perform for others, like teaching, healing, or fixing
Producer: A person or business that makes goods or provides services
Consumer: A person who buys and uses goods and services
Economy: The system of buying, selling, and trading goods and services
Barter: Exchanging goods or services without using money
Factory: A building where workers make goods using machines
Farmer: A person who grows food crops — a producer of goods
Doctor: A person who provides the service of medical care
Teacher: A person who provides the service of education
Natural resources: Materials from nature, like wood or cotton, used to make goods
Trade: Buying, selling, or swapping goods and services between people or countries