Four Markets Economics
About the Four Markets Economics Lesson
The students identifies examples of goods and services in the community
• The student understands the concepts of goods and services.
1. Students brainstorm the types of jobs and the items that are involved with each of the four types of markets [i.e., local movie theater: popcorn, movie, tickets, cashier, manager, janitor]; students write these jobs in their journal.
2. Teacher explains the difference between a ?good? [or ?product?] and a ?service? and gives the example of a restaurant providing a service as well as a good/product [the food], and a doctor?s office providing service, a movie theater providing a service as well as a product [food, movie] and a grocery store providing a service as well as a product.
3. Teacher organizes the class into four separate groups with each group representing a movie theater, doctor?s office, grocery store and restaurant.