Producers of Goods and Services and the Influence of Economic Conditions

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Producers of Goods and Services and the Influence
of Economic Conditions

• 3.7 The student will explain how producers use
  natural resources (water, soil, wood, and coal),
  human resources (people at work), and capital
  resources (machines, tools, and buildings) to
  produce goods and services for consumers.
• Created by Emily Hooker

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Goods are things people make or use to satisfy
needs and wants.
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Services are activities that satisfy peoples
needs and wants.
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Goods or services?
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Goods or services?
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• Needs are things that people must have to live-
  food, shelter and clothing.

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• Wants are things people would like to have, but
  do not need in order to live.

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• In a barter economy, goods and services are
  exchanged for each other without the use of
  money.

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In a market economy, money is used to buy goods
and services.
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• Producers are people who use resources to make
  goods. They can also use resources to provide
  services.

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• Consumers are the people who use goods and
  services.

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Producer or Consumer?