Directions: The teacher explains the differences between goods and services to the students. The students then read the words aloud, then trace them, then write them on the first blank line under each word (this is also an excellent opportunity to teach kids to follow instructions, so that they don't write the word on every following line).

The class then comes up with several "goods" (candy, food, iPods, etc.) and "services" (waiting tables at a restaurant, police work, etc.). On the board (or on this sheet if the classroom has a Smart Board), the teacher writes out the terms. The students copy the terms, putting them under the correct headings, on their worksheets.

This exercise is aligned to the Common Core standard for Beginning Economics. Click here to print.