Goods and

services
What are need ?
 Give me the examples of those needs
 Health, electricity, security, education

 Water, shelter, food, clothes, transport

 Cell phone, money, luxury clothes,….

 Mention anything that can satisfy those needs

above ?
Goods and services
 All the things that satisfy needs and wants
of the consumers are known as goods and
services.
 Goods – are things that we can see, feel,
and touch. Take home with you, you own it
 Services – are things that other people do
for you and you pay the for it
corrections
 1. tables, chairs, school bag, pencil, ball
pen etc
 Hospitals, schools, banks, spa, library etc
 Bakery – goods library- service
 School- service hospital- service
 Supermarket- goods gym- service
 Spaza shop- good bank-service
 Types of Goods
 Free goods – Goods that are freely available
and not scarce. These goods are usually
provided by nature. E.g. Air, soil, rain water
etc.

2
 Economic goods
 Economic goods – are goods that are
produced by businesses and have to be
paid for.
 3 Categories of economic
goods
1. Consumer goods – Those products that are directly
involved in satisfying consumer’s needs and wants.
 Two classes of consumer goods
 Durable consumer goods- last for a long period of time.

 Non-durable consumer goods – lasts for a short period of time or are

consumed quickly.
Categories of economic goods
1. Capital goods – are those goods that
are used to produce other goods and
services, e.g. machinery and delivery
vehicles.
Semi-finished goods – goods that are
used to manufacture other goods. E.g.
fabrics/ cloths to make clothes, steel to
make gates; leather to make shoes, flour
to make bread
Essential services

Essential services are services that we nned

every day such as waste removal, public
transport and electricity.
Non- essential services

 Services that we do not really need to function

but are nice to have, e.g garden services
CLASS ACTIVITY
 Goods and services in the community.
 Identify whether the pictures are goods
businesses or service businesses.

 Home activity
 Paste two examples of each type of
good or service.
What do we call the people
who produce these goods
and services?
 We call them producers
 Producers
is the person, household, business or government who make
goods and services to satisfy people’s needs and wants.
What about the people who buy this goods, what do we call
them?
 Consumers

Are individuals, households companies and government

agencies that uses goods and services that have been
made by producers to satisfy needs and wants.
Different sectors of economy where
producers participates

a. Primary sector – sector of the economy that

produces raw materials. E.g. Fishing, Farming
b. Secondary sector – sector of the economy that
uses raw materials to produce finished goods.
Production of jewellery and processed foods, butchery.
c. Tertiary sector – sector of the economy that
produces services. E.g. Distribution of goods to retail
stores, provision of personal services like hairdressing
and medical services.