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A look at physical objects that people make, grow, or sell in our community.
Look around you right now. Can you find something you can hold in your hand, like a pencil or a snack? These physical objects have a special name in the world of money!
In economics, a good is a physical object. This means it is something real that takes up space. If you can touch it, kick it, wear it, or eat it, it is a good! Goods are made by people, grown on farms, or sold in stores. Think of your favorite toy truck or a crunchy carrot. Because you can feel them with your hands, they are both goods. We use goods every single day to help us live, learn, and have fun.
Quick Check
If you can pick something up and hold it in your hands, is it a 'good'?
Answer
Yes! Goods are physical objects that we can touch.
You can find goods in almost every building in your community! At a grocery store, the shelves are filled with goods like milk, bread, and apples. At a toy shop, the goods might be puzzles, dolls, or balls. Even the clothes you are wearing right now are goods! People spend money to buy these items because they need them (like food) or want them (like a new game).
Let's see if an apple is a good: 1. Can you see the apple? Yes. 2. Can you touch or hold the apple? Yes. 3. Did a farmer grow it to be sold? Yes. Conclusion: Since you can touch it and it was grown to be used, apple is a good.
Quick Check
Name one good you might find in a toy shop.
Answer
Answers can include: a doll, a ball, a puzzle, a toy car, or a board game.
Goods don't just appear out of nowhere! Some goods are grown, like corn on a farm. Other goods are made in factories, like the sneakers on your feet. Some are even made by hand, like a scarf knitted by a grandmother. Whether they are grown or made, people create goods so that others can buy and use them. When you go to a store, you are looking at many different goods all in one place.
Imagine you want to buy a birthday gift for a friend. 1. You go to a store with dollars. 2. You choose a box of colorful crayons. 3. The crayons were made in a factory, put in a box, and sent to the store. 4. You pay the shopkeeper and take the crayons home. The crayons are the good in this story.
A detective looks at three things: A bicycle, a song played on the radio, and a hamburger. 1. The bicycle is made of metal and you can ride it. (It is a good!) 2. The hamburger is made of bread and meat and you can eat it. (It is a good!) 3. The song is beautiful, but you cannot touch a song with your hands. (It is NOT a good!)
Which of these is the best definition of a 'good'?
Which of these is an example of a good you would find at a grocery store?
True or False: A skateboard is a good because you can touch it and use it.
Review Tomorrow
In 24 hours, look around your bedroom. Can you point to 3 'goods' that you use every day?
Practice Activity
Draw a picture of a store. Fill the shelves with 5 different goods and label them!