Goods and services — Economics, 4–6 years
Some things are objects we can hold, while others are helpful actions someone does for us.
Two kinds of helpful things
A good is a thing someone makes or grows, such as bread, a toy or an apple. A service is an action that helps us, such as cutting hair, fixing a bike or reading a story aloud.
Why tell them apart?
People need many kinds of help and things, but they are made in different ways. Naming the difference helps us notice who made an object and who spent time doing something for us.
At the barber
First, the barber uses scissors and time to cut Leo’s hair. The cut is a service, because it is an action, not an object to take home. The comb and shampoo are goods used during the service.
A service is not nothing
It is easy to think that only a thing in a bag counts, because objects are easy to see. But a service can use skill, tools and a lot of time, even though the result is an action or an experience.
Look around town
At a market, you can see goods such as fruit and bread. Around the same street, a bus driver, dentist or mechanic provides a service. This helps us describe what people offer to one another.
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