Lesson Plan

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Lesson Plan
Grade: Date: 25/02/2026
Subject: Economics
Lesson Topic: Influences on the demand for factors of production: demand for the product, the price of different factors of production, their availability and their productivity
Learning Objective/s:
  • Describe derived demand for factors of production.
  • Explain how product demand, factor price, availability, and productivity influence factor demand.
  • Calculate marginal revenue product (MRP) using the formula MRP = MP × MR.
  • Analyse real‑world examples of factor‑demand shifts.
  • Evaluate the impact of changes in factor productivity on hiring decisions.
Materials Needed:
  • Projector or interactive whiteboard
  • Slide deck summarising the four influences
  • Worksheet with MRP calculation exercises
  • Printed summary table of factor influences
  • Markers and chart paper for group diagram
  • Laptop for short case‑study video
 Introduction:
Begin with a quick poll: “If a new smartphone becomes hugely popular, which resources will firms need more of?” Connect this to students’ prior knowledge of product demand driving production. Explain that today’s success criteria are to identify and explain the four key influences on factor demand and to apply the MRP formula.
Lesson Structure:
  1. Do‑now (5’) – Students answer the poll question on sticky notes; teacher collects responses.
  2. Mini‑lecture (10’) – Define derived demand and introduce the MRP formula with simple examples.
  3. Interactive activity (12’) – Pairs use the worksheet to calculate MRP for labour given different MP and MR values.
  4. Group discussion (8’) – Analyse how changes in product demand, factor price, availability, and productivity shift the factor‑demand curve; create a quick sketch on chart paper.
  5. Case‑study video (7’) – Short clip of a factory adjusting labour after a price rise, followed by comprehension questions.
  6. Check for understanding (5’) – Exit ticket: write one influence and its effect on factor demand.
Conclusion:
Summarise that factor demand is derived from product demand and is altered by price, supply, and productivity. Ask students to complete an exit ticket stating which influence they consider most powerful in today’s economy. For homework, assign a short research task to find a recent news article illustrating a shift in factor demand.