5 Strong Ways to Teach Goods and Services Worksheets, Anchor Charts, and Books

A grocery basket filled with food in the middle of an aisle, with text overlay that reads “Lesson Ideas: Goods and Services.”

Teaching economics to elementary students can be tricky. So, today, I want to explore how learning about goods and services will help your students’ understanding of the economy! These goods and services worksheets, read alouds, anchor charts, and videos can be included in your elementary economics unit.

Stock Your Class Library With Economics Books to Explore

Three children’s books about goods and services, including Goods or Services?, Goods and Services Around Town, and Helpers in Your Neighborhood

Pair your goods and services lessons with engaging read alouds! First, you will need a few books to keep on hand. These three books are great informational texts on goods and services. They can be used as references, read alouds, partner texts, or in small group and center activities. I would recommend having opportunities for your students to access these books several times throughout your economics unit, and even after.

Start with Teaching About Goods & Services

A colorful anchor chart showing examples of goods and services using yellow sticky notes

When teaching young students about economics, they will need to learn about goods and services. Create an anchor chart with a line down the middle. Record a definition of each term and spend some time facilitating a discussion of what each term means. Provide a few examples. Then, allow students to turn and talk to a partner, adding to the collection of examples as a group. Remember, you can always refer back to these charts and add to them throughout the year! It is a great way to reassess knowledge and reactivate understanding.

Colorful printed worksheets and reading passages titled “What is a Good?” and “What is a Service?"

Source: Economics Activities

Have students read and write about goods and services using different types of passages and goods and services worksheets. Incorporating reading and writing activities will be helpful for students’ understanding of the concepts individually. Add informational reading passages that have graphic organizers, writing activities, or comprehension activities that follow.

A teacher using a laptop to show a BrainPOP Jr. video lesson about goods and services

Source: Brain Pop Jr.

You know how much I love BrainPop! There is an excellent video on Goods and Services. The video highlights important terms and makes it very easy for young students to understand the difference between a good and a service. Plus, the video has great real-life examples that students will connect with. The real-life connections will help students engage in the content!

Shift to Lessons on Producers and Consumers

A classroom anchor chart showing examples of producers and consumers written on pink sticky notes.

Now, it’s time to discuss producers and consumers. Students should be able to tie goods and services to this new concept. Create another simple anchor chart with a line down the middle. Record the two terms and their meanings. Facilitate another discussion about examples of producers and consumers. Again, students can turn and talk to come up with their own examples of producers and consumers to add to the chart. *Teacher tip: you can pass out the sticky notes from the goods & services chart and have students come up with the producers or consumers that would be connected to each example!

Two graphic organizers comparing producers and consumers with writing spaces for student answers

Source: Economics Activities

Strengthen your students’ understanding by having them apply their skills and display their knowledge. In each of the activities above, students will be using multi-content skills. They can apply their understanding of producers and consumers to identify and describe or compare and contrast! These also come in handy at this point in your unit in assessing who needs additional instruction and who is ready for the next steps!

Find Goods and Services Worksheets & Passages HERE!

All of the printable activities in this post can be found in this no-prep pack! The economics unit comes with both printable and digital formats of reading passages and other graphic organizers and worksheets.