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Goods and Services Worksheet

A Grade 5 Social Studies worksheet focusing on understanding goods, services, producers, and consumers.

Grade 5 Social studies EconomicsGoods and Services
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Includes

Multiple ChoiceFill in the BlanksTrue / FalseShort AnswerWord Bank

Standards

D2.Eco.1.3-5. Explain how scarcity requires people to make choices and how those choices affect individuals and society.D2.Eco.2.3-5. Describe the roles of producers and consumers in a market economy.

Topics

Social StudiesEconomicsGoodsServicesGrade 5
7 sections · Free to use · Printable
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Goods and Services

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Date:

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Read each question carefully and answer to the best of your ability. This worksheet will test your knowledge of goods, services, producers, and consumers.

1. Which of the following is an example of a GOOD?

a

A haircut

b

A new pair of shoes

c

A doctor's visit

d

A car wash

2. Someone who makes or provides goods or services is called a:

a

Consumer

b

Producer

c

Customer

d

Buyer

3. A   is something that can be bought or sold, and you can physically touch it.

4. When you pay someone to fix your broken bicycle, you are paying for a  .

5. A teacher provides a service.

T

True

F

False

6. Every person is only a consumer and never a producer.

T

True

F

False

7. Describe the difference between a good and a service. Give one example of each.

Use the words below to complete the sentences.

consumer
producer
scarcity
choice

8. Because of  , people must make decisions about what they want and need.

9. When you buy a toy, you are acting as a  .