Lesson Plan

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Lesson Plan
Grade: Date: 17/01/2026
Subject: Economics
Lesson Topic: Primary/secondary/tertiary sector firms
Learning Objective/s:
  • Identify characteristics of primary, secondary and tertiary sector firms.
  • Explain how firms in each sector determine output, pricing and profit.
  • Apply the profit‑maximisation condition (MR = MC) to calculate break‑even output.
  • Analyse sector‑specific factors that influence revenue and cost decisions.
  • Evaluate a real‑world example using the profit formula.
Materials Needed:
  • Projector and screen
  • Whiteboard and markers
  • Printed handout of sector table and profit formulas
  • Calculator or spreadsheet software
  • Sample data cards for primary, secondary, tertiary firms
  • Exit‑ticket slips
 Introduction:
Begin with a quick poll: which products or services do you use daily? Link responses to the three economic sectors and remind students they have already explored basic supply‑demand. Explain that today they will understand how firms in each sector decide what to produce, at what price and how to maximise profit. Success will be measured by correctly completing the sector decision‑making checklist.
Lesson Structure:
  1. Do‑now (5') – Students list examples of firms they encounter and classify them into primary, secondary or tertiary on sticky notes.
  2. Mini‑lecture (10') – Present sector characteristics and key decision‑making factors using a projected table.
  3. Guided practice (12') – Work through profit‑maximisation steps for a primary sector firm (e.g., farm) with provided data; teacher checks understanding.
  4. Group activity (15') – Teams analyse a secondary or tertiary firm case (e.g., car factory, coffee shop), calculate break‑even quantity and discuss sector‑specific influences.
  5. Whole‑class debrief (8') – Share findings, compare how revenue and cost drivers differ across sectors; emphasize MR = MC rule.
  6. Exit ticket (5') – Students write one way a primary, secondary and tertiary firm might adjust output in response to a price change.
Conclusion:
Summarise that all firms aim to maximise profit but the factors shaping revenue and cost differ by sector. Reinforce the profit formula and the MR = MC condition as the key decision tools. Collect exit tickets and assign homework: complete a worksheet calculating profit for a chosen sector firm.