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Local Economy Worksheets

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Local Economy Worksheets

A community market is opening in Aotearoa New Zealand. Help the organisers make good choices by solving each task. Read the short story first. Use dollars ($) for all money amounts.

Meet Harbourview

Harbourview is a small coastal community. On Saturdays, Maia’s whānau buy bread from a local bakery and vegetables from a growers’ stall. A mechanic repairs cars, a nurse cares for people, and a bus driver helps residents travel. These businesses and workers provide goods (things people can buy) and services (work people do for others). People earn income from jobs and spend some of it locally. The money people spend helps businesses pay workers and buy supplies. This connected activity is part of the local economy. At the market, growers trade vegetables for money, which they can use to buy other things they need. The market committee has $30 to spend on signs and bins, so it must make choices within its budget.

Investigate the local economy

Use the Harbourview story and the market price list to complete the mission.

Item or service

Price

Loaf of bread

Bag of carrots

Jar of honey

Bike tyre repair

$12

1.Which sentence best explains what a local economy is?

The way people in a community make, sell, buy and use goods and services
A list of every shop in a town
Only the money kept by a town council
A place where people grow vegetables

2.Classify each Harbourview example as a good or a service: a loaf of bread; a nurse caring for a patient; a bike tyre repair; a bag of carrots.

3.Explain one way a local worker or business helps other people in Harbourview. Use an example from the story.

4.A grower sells a bag of carrots for $3. What does the grower receive in this trade, and what does the customer receive?

5.Maia buys a loaf of bread and a bag of carrots. How much does she spend altogether?

6.The committee has $30. It buys two signs costing $9 each and one bin costing $8. How much money is left? Show your calculation.

7.True or false: When a family spends money at a local business, that business may use the money to pay workers or buy supplies.

TrueFalse

8.The committee can afford either a $12 bike-repair demonstration or a $12 music performance. Give one reason to choose either option, and name one group of people who might benefit.

9.A new stall is being planned. Suggest one good or service it could provide that might meet a need or want in Harbourview. Explain who might use it.

10.Choose one way people could support a local business, then explain how it could help the community’s local economy.