Grade 3 · Social Studies · Lesson 26

Goods, Services, and Trade

Every time you walk into a store, order food, or watch a repairperson fix something, you are part of an economy — the system of producing, buying, and selling things in a community or country. Two of the most important building blocks of any economy are goods and services, and the engine that moves them around is trade.

What this lesson teaches

1Tell the difference between a good and a service
2Give real-life examples of goods and services
3Explain how trade lets communities exchange what they produce for what they need

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