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Goods and Services - Coggle Diagram
Goods and Services
What are goods?
grown
fruit and vegetables
natural resources
wood
paper
pencils
furniture
homes
made
ex: clothes, computers and cars
What are Services?
work for someone
Ex:
a babysitter
a bus driver
a dentist
a teacher
a firefighter
be offered or made
from other parts of the country
from other countries
locally
a consumer
buy
goods
services
a producer
make/ grow/ offer
goods
services
How producers and consumers affect each other?
supply
available to consumers
demand
how much consumers want
Ex 1.
When the demand is high
not enough supply
the price may go up
Ex 2.
When the demand is low
enough supply
the price may go down
the store can sell more easily