Class 6 – Basic Economics

Chapter 1: Needs, Goods and Services

STAGE 0: Let Us Begin (Foundation)

Economics is about how people live and meet their daily needs 😊

Every person needs certain things to live a happy life.

In this chapter, we learn about:

• Needs
• Goods
• Services

STAGE 1: Chapter Explanation (Story Style)

What are Needs?

Needs are things that are necessary for life.

Basic needs of people are:

• Food
• Clothing
• Shelter

Other Needs

People also need:

• Education
• Healthcare
• Transport

What are Goods?

Goods are things that we can see and touch.

Examples of goods are:

• Books
• Clothes
• Food items
• Furniture

What are Services?

Services are actions done by people for others.

We cannot touch services, but we can feel their help.

Examples of services are:

• Teaching by a teacher
• Treatment by a doctor
• Driving a bus
• Repairing machines

STAGE 2: Textbook-Style Questions & Answers

Q1. What are needs?
Answer: Needs are things that are necessary for life.

Q2. Name any two basic needs.
Answer: Food and shelter.

Q3. What are goods?
Answer: Goods are things that we can see and touch.

Q4. What are services?
Answer: Services are actions done by people to help others.

STAGE 3: Exam Practice (Easy)

Question:
Give one example each of goods and services.

Answer:
Goods – Book
Services – Teaching

Exam Tip:
Write answers in short and clear sentences.

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Shaktimatha CBSE Learning
Basic Economics – Foundation Course

🧠 Quick Revision
• Needs are necessary things
• Goods can be touched
• Services are helpful actions