Goods and Services Homeschool Worksheet - Answers and Completion Rate

Task 1. Read the text. An economy is the way that money is made and spent. In an economy, there are businesses that supply a good or a service to the public. These businesses can come in many forms. If a business produces a service, it does something that the public needs. A hair salon is a business that provides a service. People pay the business, and in exchange for their money, the business does the service of cutting their hair. On the other hand, a bakery is a business that provides a good to the public. People pay the bakery in return for their baked goods. An economy needs people to supply both goods and services. Task 2. Look at the main idea. Check off the lines where you find key details that support the main idea. Main idea In an economy, there are businesses that supply a good or a service to the public.