Summary: Rumpelstiltskin's daughter outwits the greedy king, who tries to get her to spin straw into gold just as her father once did. In the end, she helps a troubled community overcome their economic problems created by the king.

Concept: Goods and Services

Definition: A good is an object people want that they can touch or hold. A service is an action that a person does for someone else.

Comprehension Questions:

Identify the good the king wanted the miller's daughter to spin from straw? (gold)

What service did Rumpelstiltskin offer to do in exchange for the miller's daughter's necklace? (spin the straw into gold)

In exchange for spinning the straw into gold for the second time, what good did the miller's daughter offer Rumpelstiltskin? (a cigar-band pinkie ring)

Explain how Rumpelstilskin provided for his family when they wanted something they couldn't make or grow. (He produced gold that he used to get the goods and services his family couldn't grow or make themselves.)

Describe the economic problem in the kingdom that resulted from the king's greediness for more and more gold. (Food and clothing - which are scarce economic goods - became even more scarce for the people. It appears that the greedy king had taxed his people into great poverty.)

List the goods or services provided by the following people in the kingdom that were a direct result of the tricks played on the king by Rumpelstiltskin's daughter:

Extra Credit Question! What capital resource was used to make the gold (good) from the straw? (spinning wheel)

Other Concepts: economic wants, producers, natural resources, human resources, capital resources, scarcity, trade and money

(From KidsEcon Posters©: www.kidseconposters.com)