Goods and Services -2

1. Begin by asking studens to name different business in the area.
2. It may be beneficial to give them some ideas to get them started, and then write their ideas on the board for a visual.
3. After many contributions have been given, ask students about the things they buy from these places. Do they buy something specific? Do they pay someone to do something for them?
4. Play powerpoint found in lesson resources.
5. Explain to students that a good is something you can buy from someone (food, clothes, phones, etc.) A service is something you pay for someone to do for you (haircut, insurance, car wash, etc.)
6. Put a huge emphasis on the fact that goods and services must be produced - they don't appear magically on store shelves. Similarly, they are produced using scarce productive resources (natural, human, and capital); thus, the goods and services themselves are considered scarce.
7. Split the class into groups of 3-4.
8. Explain the instructions for the task at hand:
a. Brainstorm a business plan - what kind of business do you want? Do you want to provide a good or a service?
b. Once a conclusion is made, decide what the name of your business will be. Make sure it something catchy that will draw a consumer's attention to your store.
c. Next think about what  you will be selling (minimum 2 items, maximum 5 items) and decide on prices for these goods or services.
d. Discuss how you will obtain these goods or services. (ordering online, growing outside, training someone to perform the task, etc.)
e. Using the materials provided, create a sign for your business and a list of your products that are easy for a buyer to read and obtain.
f. Be prepare to present your business plan to the class.

9. Have students work on this for a good amount of time, but not meant to take multiple class periods unless you wanted to add more details to the project. Grade students on letters c-f.
10. Once everyone has presented, pass out short quiz to check for understanding. 

Presentation and quiz