Question

In small groups, study the economic activities around your locality. What are the different types of goods and services being made or provided?

Here’s a small report that Latha, Asha, Mohan, and Kiran made. You can make your own report for shops of your choice.

Types of shops	Number in the locality	Goods produced or services provided	Types of inputs required
Grocery shops	13	Food grains, milk, bread	Packaged goods, perishables, storage space
Restaurants/food stalls	8	Cooked meals, snacks, beverages	Raw ingredients like vegetables and fruits, gas, utensils; cook/helper
Vegetable vendors	15	Fresh vegetables and fruits	Fresh produce, baskets, weighing scale, cart or stall
Mobile repair shops	4	Mobile repair, mobile accessories	Tools, spare parts, knowledge and skills of mobile components and functions
Salons/parlours	3	Haircuts, grooming, beauty services	Scissors, creams, beauty products, water, electricity

Looking at your group’s report, think about the following:

• Where do people get the money that they need for their business?
• Where did the hairdresser get trained?
• Who taught the food vendors to cook?
• What motivated the business owners to start their business?

Answer 1

In my locality, several different types of goods and services are produced or provided. Below, I have written a report on my favourite shops and businesses:

Types of shops	Number in the locality	Goods produced or services produced	Types of inputs required
Sweet shop	9	Indian sweets and snacks	Ghee, milk, sugar, flour, khoya, dry fruits
Bakery	10	Cake, pastry, cookies	Sugar, starch, dry fruits, egg, butter, milk
Stationary shop	15	Notebook, book, pen, school supplies	Paper, ink, cardboard, plastic
Jewellery shop	05	Gold/silver/diamond ornaments	Precious metals, polishing tools, gemstones
Footwear shop	06	Shoes, slippers, crocks, sandals, boots	Leather, rubber, glue, thread, cutting tools, fabric

• People arrange money to start their businesses through family funds, personal savings, bank loans, or investments. Some may also sell their property or apply for government grants and subsidies available for new businesses.
• Hairdressers develop their skills by attending beauty institutes, doing internships with experienced professionals, or gaining practical knowledge by working in a family business.
• Food vendors learn cooking skills from family members, through regular practice, or by working with experienced vendors. Many also use online cooking classes and platforms such as YouTube and Facebook to improve their skills.
• Business owners are often motivated by the desire to become financially independent, support their families, or earn a livelihood. Their personal dreams, interests, and passion for developing new ideas can also encourage them to start a business.