Students draw a situation on a slip of paper and copy it to the form provided. Their list should describe each picture briefly, it terms of what good or service is pictured. A story problem about Lisa the cookie baker and her business will be provided for students to work on. Students will list 6 different vocabulary words and write a definition and example of each. Producers are people who perform a service or make goods.
Consumers are people who use goods and services.
Lisa is a baker at the Happy Tummy Bakery. Use the information below to help her answer some questions about her shop. Lisa is baking chocolate chip cookies. She puts 16 chocolate chips in each cookie and 24 cookies on each pan she puts in the oven. Lisa makes 5 dozen cookies per hour.