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Goods and Services - Coggle Diagram
Goods and Services
Goods
meaning
things that are made or grown
examples
manufactured
🛠
clothes 👕👖👗
computers 🖥
cars 🚘
grown
🌱
fruits 🍎🍊🍉
vegetables 🫑🌶🥕
from natural resources
wood
paper 📄
pencils ✏️
furniture 🛏🪑
homes 🏘
Services
meaning
work by someone for someone else
examples
dentist 🦷
babysitter 👩🏻🍼
bus driver 🚌
teacher 👩🏻🏫
firefighter 🧑🏻🚒🧯
dog-walking service 🦮
Origin
local
other parts of the country 🇰🇷
other countries 🇺🇸🇲🇽🇨🇳
Producer
🧑🏻🌾👩🏻🏭🧑🏻⚕️
meaning
someone who makes or grows goods
Consumer
💵
meaning
someone who buys goods or services
Producers and Consumers
supply
meaning
amount of something available to consumers
demand
meaning
how much consumers want something
relationship between demand and price
high demand
⬆️
higher price 📈
low demand
⬇️
lower price 📉
new product 🆕
old product's price decreases 📉
easier for stores to sell 👍🏻