Nick talked about all the chisels that manufacturers hope to sell to carvers and the ones that members new to carving need to buy. He had a chart of all the chisel types and described their uses.
The chisels actually needed depends on the type of work being done, but with a bit on ingenuity most work can be carved with a basic set. Cheap chisels are usually not worth buying as they lack the qualities that a good manufacturer achieves through the final processes after the shaping of the tool . The tool needs to be hard at the cutting edge and get progressively softer towards the handle prevent snapping. Cheap tools are either too soft at the cutting edge and will not stay sharp or too hard and break easily. Good tools are expensive but fortunately there are car boot sales and 2nd hand markets where good old tools are sometimes available.