2nd grade goods, services, needs and wants

Grades 1–2 (ages 6–8) · 13 videos · Checked and refreshed daily

Quick answer

This 2nd grade social studies playlist covers goods, services, needs and wants, from Homeschool Pop's "Goods and Services for Kids" and Kids Academy's producers and consumers lesson to the St. Louis Fed's Explore Economics stories and sing-alongs. Play all on repeat for a lesson, or loop one sing-along on Repeat one.

Play all on repeat

Videos in this playlist

  1. 1Goods and Services for KidsGoods and Services for KidsHomeschool PopPlay from here Loop
  2. 2Goods and Services - Who Provides What We Need and UseGoods and Services - Who Provides What We Need and UseMiacademy & MiaPrep Learning ChannelPlay from here Loop
  3. 3Economics for Kids | Goods and Services, Producers and ConsumersEconomics for Kids | Goods and Services, Producers and ConsumersHomeschool PopPlay from here Loop
  4. 4Producers and Consumers | Social Studies for Kids | Kids AcademyProducers and Consumers | Social Studies for Kids | Kids AcademyKids AcademyPlay from here Loop
  5. 5Financial Literacy—Needs and Wants | Learn about needs, wants, and opportunity costsFinancial Literacy—Needs and Wants | Learn about needs, wants, and opportunity costsLearn BrightPlay from here Loop
  6. 6The Perfect Breakfast | Explore Economics (Grades 2-5)The Perfect Breakfast | Explore Economics (Grades 2-5)Federal Reserve Bank of St. LouisPlay from here Loop
  7. 7How Daniel Got What He Wanted | Explore Economics (Grades 2-5)How Daniel Got What He Wanted | Explore Economics (Grades 2-5)Federal Reserve Bank of St. LouisPlay from here Loop
  8. 8Supply and Demand - Learn How Goods and Services WorkSupply and Demand - Learn How Goods and Services WorkMiacademy & MiaPrep Learning ChannelPlay from here Loop
  9. 9What Is Money? - Learn About Currency and Its Uses Around the WorldWhat Is Money? - Learn About Currency and Its Uses Around the WorldMiacademy & MiaPrep Learning ChannelPlay from here Loop
  10. 10What Makes Something Useful as Money? | Explore Economics (Grades 2-5)What Makes Something Useful as Money? | Explore Economics (Grades 2-5)Federal Reserve Bank of St. LouisPlay from here Loop
  11. 11Productivity | Explore EconomicsProductivity | Explore EconomicsFederal Reserve Bank of St. LouisPlay from here Loop
  12. 12What Are Goods and Services? | Explore Economics Sing-along (Grades 2-5)What Are Goods and Services? | Explore Economics Sing-along (Grades 2-5)Federal Reserve Bank of St. LouisPlay from here Loop
  13. 13What Are Consumers and Producers? | Explore Economics Sing-along (Grades 2-5)What Are Consumers and Producers? | Explore Economics Sing-along (Grades 2-5)Federal Reserve Bank of St. LouisPlay from here Loop

What economics do children learn in 2nd grade?

In 2nd grade (ages 7–8) children learn that goods are things people make or grow and services are work people do for others. They learn that producers make goods and services and consumers buy and use them, that needs come before wants, and that people trade or use money to get what they need.

How can RepeatWatch help with an economics lesson?

Use an A–B loop on the part that sorts examples into goods and services, and pause to let your child add their own. Slow a story to 0.75x, save each idea on keys 1–9, and use Stop after N loops to keep the session short.

Frequently asked questions

What should my child be able to do after this unit?

Most children can sort examples into goods and services, explain the difference between a producer and a consumer, tell a need from a want, and say why people trade or use money. Grade levels vary by country and school.

Who makes the Explore Economics videos?

They come from the economic education team at the Federal Reserve Bank of St. Louis, which makes free lessons for grades 2–5. They teach ideas such as producers, consumers and trade through short stories and songs.