SSKE3 The student will explain how money is used to purchase goods and services. a. Distinguish goods from services.

SSKE2 The student will explain that people earn income by exchanging their human resources (physical or mental work) for wages or salaries.

Taking out the trash Washing the dishes Doing your homework Reading a book Cleaning your room Making your bed Taking care of the pets Setting the table Practicing your instrument Helping to cook Watering the plants Sweeping or vacuuming Cleaning the bathroom

Do the following persons earn income by providing a service or by providing goods (or product)?income a service

Income-payment in money for services or work, or from property or investments. Product-a physical object that is created, bought or sold by a business capable of being delivered to a purchaser and involves the transfer of ownership from seller to customer. Service-work done by one person or group that benefits another;