The official definitions of stocks can be further classified into the following:

1. Growth Stocks
2. Income Stocks
3. Growth (moderate) and Income Stocks
4. Defensive Stock
5. Cyclical Stocks
6. Blue Chips
7. Speculative
8. Special Situation Stocks
9. Small and midsize company stocks (mid cap and pennies)
10. Foreign Stocks (like S shares)

Every stock will fall into one or more of the above mentioned categories.

But to make things easier to understand.

1. 'Needs' Stocks are stocks which are compulsory and needed in the market. Think of Warren Buffet investing in Gilette. In Singapore, 'Needs' stocks will be things like SMRT, Singpost and SPH

2. Renewable Biz stock: these kind of stocks will get renewable business regardless of market condition (its another term for defensive counters). Things like ST engineering, Vicom... etc

3. Monopoly quite easy to understand. Supply and Demand. The demand is there, but theres only one supply. So whoever controls the supply, controls the price. Things like SMRT