DELHI PUBLIC SCHOOL KARNAL

SESSION-2020-21
CLASS-IV
CHAPTER-15
PRODUCING AND CONSUMING GOODS

1. What are goods?

Goods are the commodities that fulfil needs and wants of people.

2. Who are producers?

A person who makes or grows goods is called a producer.

3. Who is a consumer?
A person who buys and uses goods is called a consumer.

4. How does a producer decide what to produce?

Producers must be aware of the consumers needs and wants. For example, there are you many
producers who make variety of chocolates because they know everybody likes chocolates and
therefore there will always be a demand of their goods.

5. Why is market important?

Market is important because it is a place where sellers and buyers meet to sell and buy finished goods
respectively. We can get different things from the market.

EXTRA QUESTIONS

1. What are the resources needed for production?

Natural resources for example water, oil and soil
Human resources for example shopkeepers, teachers, artisans etc
Capital resources for example tools, buildings, trucks, computers etc

2. What are durable and non-durable goods?

Durable goods- The goods that can be used repeatedly are called durable goods examples TV, AC,
cars etc
Non-durable goods- The goods that can be used of only once are called non-durable goods for
example bread and milk.

3. Differentiate between producer goods and consumer goods.

Producer goods: The goods that are made or grown to produce other goods are called producer goods.
For example: tools, machinery and raw material.
Consumer goods: The goods that satisfy the needs and wants of people are called consumer goods.
For example: bread, pen, clothes etc.