- Goods and services satisfy people’s needs and wants.
- People are consumers when they buy or use goods and services.
- People are producers when they make goods or provide services.
- Most people are both consumers and producers.
Essential Questions:
- What are goods?
- What are services?
- Who is a consumer?
- Who is a producer?
Essential Knowledge:
Terms to know:
- goods: Things people make or use to satisfy needs and wants
- services: Activities that satisfy people’s needs and wants
- consumer: A person who uses or buys goods and services
- producer: A person who makes goods or provides services
Essential Skills:
- Collect, organize, and record information.
- Gather and classify information.