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Goods & Services (What are goods? (made (made from natural resources,…
Goods & Services
What are goods?
made
clothes, computers, cars
made from natural resources
things from nature
coal
water
wood
paper, pencil, home, furniture
grown
fruits
vegetables
items made & sold
Consumers & Producers
consumer
people who buy goods & services
producers
people who provide goods & services
relation
producer's supply
amount of goods available to consumers
supply > demand
price goes down
consumer's demand
how much consumers want sth.
supply < demand
price goes up
What are services?
work for someone else
teacher
teach students
babysitter
take care of babies
dentist
keep our teeth healthy
firefighter
keep us safe
offered
locally
to & from other places