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Good and Services - Coggle Diagram
Good and Services
What are SERVICE?
work that someone does for someone else
examples
dentist
baby sitter
teacher
bus driver
firefighter
made/
produced
other countries
locally
producer
sell goods and services
consumer
buys goods and services
What are GOODS?
things that are
made
grown
natural resource
ex: furniture,computer, clothes
are made(=manufacture)
ex: fruits and vegetables
are grown
ex: wood, coal, water
be sold or manufactured
How do PRODUCERS and
CONSUMERS affect each other?
Producer's Supply
amount of something available to CONSUMERS
DEMAND
how much CONSUMERS WANT something
HIGH DEMAND= High Price
LOW DEMAND= Low Price
New Item
Low Demand for old product