Class 7 Economics – FULL REVISION
Chapters 1 to 3
Quick Notes • Mind Maps • Mnemonics

---

📘 Chapter 1 – Development

• Development means improvement in quality of life.
• People have different goals for development.
• Income alone does not show development.
• Education, health and equality are important.
• Sustainable development protects future needs.

Mnemonic: D-E-H-E-S
Development = Dignity, Education, Health, Equality, Sustainability

---

📘 Chapter 2 – Sectors of the Indian Economy

• Economic activities are divided into sectors.
• Primary: agriculture, fishing, mining.
• Secondary: factories, manufacturing.
• Tertiary: services like transport, banking.
• Tertiary sector is growing rapidly.

Mnemonic: PST Rule
P – Primary (Nature)
S – Secondary (Factory)
T – Tertiary (Services)

---

📘 Chapter 3 – Money and Credit

• Money removes problems of barter system.
• Money is a medium of exchange.
• Banks accept deposits and give loans.
• Credit helps in production.
• Too much credit can cause debt.

Mnemonic: M-B-C
M – Medium of exchange
B – Banks
C – Credit

---

🧠 MASTER MIND MAP (TEXT)

Economics → Development → Sectors of Economy → Money → Credit → Banks → Services → Growth

---

✍️ EXAM ANSWER WRITING STRUCTURE

• Start with definition.
• Explain in 2–3 points.
• Give example if possible.
• Underline keywords.
• Maintain neat handwriting.

---

🎯 EXAM TIP:
If you remember definitions + examples + mnemonics, Economics becomes the **EASIEST subject**.

Prepared by Shaktimatha Learning 🌟
CBSE Economics • Simple • Exam Ready