TERM 1


Examples of goods and services Goods and services can be divided up into different categories:


Goods Services


Natural goods: Goods in their natural state, for example wood.


Manufactured goods: Goods that have been changed from their natural state by production, for example a wooden table.


Utility goods: Goods that we use every day, for example knives, forks and plates.


Luxury goods: Goods we can live without such as sports cars.


Consumable goods: Goods that do not last like food.


Durable goods: Goods that last a long time such as furniture.


Capital goods: Goods we use to produce products or provide a service, for example machinery or a washing machine in a laundry business.


The following flow chart shows the link between needs, goods and services and starting a business.


Needs Food Drink Shelter Clothing Relaxation


Needs


Health care Entertainment Education Transport


Goods


Fruit, vegetables, meat Cold drinks


Building materials


T-shirt, jeans, shoes Soccer ball, tennis racket


Services


Doctors, dentists, opticians Dancing, music, films


Technical training, courses Taxis, buses, trains


Businesses


Big Saver Supermarket Main Road Cafe Mr Build-It PeP Boutique


One-Stop Sports Shop Businesses


The Medical Centre The Majestic Cinema Dale’s Training College Thabo’s Taxis


Did you know?


The links between needs and goods, and needs and services, create opportunities for businesses to start up. As businesses develop, and


consumers support these businesses, an economy is created.


Essential services: Services that we need 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, for example a garden service.


Activity 1 Identify local goods and services


Work with a partner. 1 Find adverts of goods and services in newspapers, magazines or the Yellow Pages. Discuss why they are goods or services.


2 Classify the goods and services according to the types listed in the above table.


3 Think of the kinds of businesses that you know in the area where you live. Write down the names of the businesses under one of the two headings: goods or services.


4 As a class, discuss how you grouped the businesses and what these businesses sell.


5 Then discuss other businesses that are needed to meet the needs and wants in your community.


(6) (6) (6) (4) (6) Total: 28 marks Unit 3 Goods and services 25 Exam words


find: identify from amongst other options, or get relevant information


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