Key Vocabulary
goods
things that people buy or use.
service
work that people do for others.
price
the amount of money that you have to give to buy something. How much does it cost? price tag.
sell
to give something for money. in exchange.
buy
to get something by giving money for it.
trade
to give someone one thing and get another thing from them.
pay
to give money for something.
grow
to raise plants or animals.
compare
to see how things are different or similar.
Visual Summary
People meet their wants and needs.
| goods | services |
|---|---|
| home | mail carrier |
| car | bus driver |
| book | doctor |
| food | hairstylist |
Exercise
Match each word with its definition:
- to give something for money. (sell)
- to get something by giving money for it. (buy)
- things that people buy or use. (goods)
- work that people do for others. (service)
- to give someone one thing and get another thing from them. (trade)
- the amount of money that you have to give to buy something. (price)
True of False
| Statement | True or False |
|---|---|
| Trade means to see how things are different or similar. | F |
| A service is a type of work people do for others. | T |
| Sellers pay money for goods or services. | F |
Reading passage
People buy goods and services to meet their wants and needs. Bread, apples, cars, and toys are all goods. You get services when you take a bus, go to a hairstylist, or see a doctor. People make or grow goods and sell them in stores.
They sell services too. They sometimes come to you with their services. A mail carrier delivers your letters to you. You have to pay money to buy goods and services.
When you do this, you should compare the prices and quality. You can also trade goods or services. Children at times trade their lunch or small chores with each other.
Reading skill
Compare and Contrast
| Goods | Services |
|---|---|
| People (make) or grow goods and (sell) them in stores. Bread, apples, cars, and toys are goods. | You get services when you take a bus, go to a hairstylist, or see a doctor |
People buy goods and services to meet their (wants) and (needs). You have to (pay) money to buy goods and services.
Comprehension
- What does a mail carrier deliver to you? (letters)
- People buy (goods and services) to meet their needs and wants.
- When you buy a good or service, you (should compare the quality and prices).
- Some people make or grow goods to sell, and (others sell services that people want or need).
source
From American Textbook Reading Social Studies 11 47:05