In small groups, study the economic activities around your locality. What are the different Class 8
In small groups, study the economic activities around your locality. What are the different Class 8
In small groups, study the economic activities around your locality. What are the different types of goods and services being made or provided? (Page 165) Class 8
→ Here's a small report that Latha, Asha, Mohan, and Kiran made. You can make your own report for shops of your choice.
Answer:
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 input Required |
| Sweet shop | 09 | Indian sweets and snacks | Ghee, milk, sugar, flour, khoya, dry fruits |
| Bakery | 09 | Cake, pastry, cookies | Sugar, starch, dry fruits, egg, butter, milk |
| Stationary shop | 15 | Notebook, book, pen, school supplies | Paper, ink, cardboard, plastic |
| Jewelry shop | 05 | Gold/silver/diamond ornaments | Precious metals, polishing tools, gemstones |
| Footwear shop | 06 | Shoes, slippers, crocs, sandals, boots | Leather, rubber, glue, thread, cutting tools, fabric |
Looking at your group's report, think about the following:
Question 1.
Where do people get the money that they need for their business?
Answer:
People get the money that they need for their businesses from family funds, personal savings, bank loans or investors. Sometimes, individuals sell some of their properties to start a business. They often look up grants or subsidies offered by the government, especially for startups.
Question 2.
Where did the hairdresser get trained?
Answer:
The hairdressers get trained in beauty institutes. They often pursue internships under an experienced hairdresser. Individuals with family business generally get hands- on experience by working alongside family members and also help the business grow.
Question 3.
Who taught the food vendors to cook?
Answer:
Food vendors usually learn to cook from family members, self-practice or by working under other experienced vendors. Many vendors these days rely on culinary classes available on the internet (platforms like YouTube and Facebook)
Question 4.
What motivated the business owners to start their business?
Answer:
The business owners often get motivated to start their businesses by the urge to be financially independent or to fulfill the livelihood and needs of their family. Personal dreams or passion to develop their ideas also motivate many to start their businesses.