What our Goods and Services lesson plan includes
Lesson Objectives and Overview: Goods and Services teaches students about these specific aspects as they relate to economics. Students will be able to define both terms and explain the differences between the two. They will be able to identify both and tell how they relate to the economy.
The lesson contains three pages of content that describe goods and services. It starts out by defining each term and discussing how they relate to the economy. Students will then look at two lists that describe how the two differ from one another. For instance, goods are typically tangible while services are not.
Finally, they will practice figuring out whether something is a good or a service using six examples. You can walk through these examples and explain the answer if any of the students struggle to understand.
START YOUR OWN COMPANY ACTIVITY
Students will work with a partner on the activity. (You may choose to have them work alone or in groups.) They will work together to create their own company. They will discuss the things that interest them and come up with five goods and services that relate to their interests. Once they decide on what their business will be, they will answer five questions about it. On the second page, they will fill out the charts that list the five goods and five services they will sell and provide. They must also list a reason for each one.
GOODS AND SERVICES PRACTICE WORKSHEET
For the practice worksheet, students must read through 20 different statements. They will have to determine whether the statement represents a good (G) or a service (S).
FILL IN THE BLANKS HOMEWORK ASSIGNMENT
The homework assignment divides into two sections. The first section contains 10 sentences. There are 10 words in a word bank at the top of the page. Students will fill in the blank in each sentence with the correct term. For the second section, students will read a paragraph and answer two questions that relate to what they read.