Goods & Services
Identify goods and services in the community
Goods and Services
Goods are physical things you can touch and buy — food, clothes, books, furniture. Services are actions done for you by other people — teaching, haircuts, taxi rides, medical treatment. Both goods and services have a price and are exchanged for money.
Example
Goods vs Services
Goods: bread, school uniform, pencil, soccer ball, chair
Services: doctor's treatment, teacher's lessons, plumber fixing a pipe, taxi ride to town
Some businesses provide goods (shops)
Some provide services (salons, clinics)
Some provide both (restaurant = food + serving)
Note
Remember
In our community, many people earn money by providing goods or services. A spaza shop sells goods. A hairdresser provides a service. Both are important businesses. Think about what goods and services your family buys every week.
Key Vocabulary
GoodsPhysical items that can be bought and sold
ServicesWork done for others in exchange for payment
ConsumerA person who buys goods or services
BusinessAn organisation that provides goods or services for money
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Goods
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