Lesson Plan

• Describe the three main types of markets (product, factor, financial) and give concrete examples of each.
• Explain how price signals in these markets allocate resources efficiently.
• Compare the role of buyers and sellers across different market types.
• Analyse how changes in demand or supply affect resource distribution.
• Apply the concept of market allocation to real‑world issues such as unemployment or investment.

• Projector or interactive whiteboard for slides.
• Printed handout with market examples and comparison table.
• Whiteboard and markers.
• Sticky notes or index cards for student examples.
• Laptop with internet access for short video or market news clips.

Begin with a quick poll: “Where did you buy your last smartphone?” to link students to product markets and activate prior knowledge. Explain that today they will explore different market types and how these markets allocate resources. Success will be measured by their ability to list examples and explain price‑signal mechanisms.

1. Do‑now (5'): Students write three places they bought goods or services this week and share examples. (Engage)
2. Mini‑lecture (10'): Overview of product, factor, and financial markets with slide visuals and real‑world examples. (Explain)
3. Group activity (12'): Teams match market cards to their type and discuss how each allocates resources; teacher circulates. (Explore)
4. Comparison table analysis (8'): Whole class examines the provided table, identifying key participants and price indicators; quick Q&A. (Elaborate)
5. Diagram demonstration (5'): Show a supply‑demand curve for a product market and link price changes to resource flow. (Explain)
6. Check for understanding (5'): Exit ticket – one sentence describing how a price increase in a product market reallocates resources. (Assess)

Summarise that markets use prices to signal scarcity and guide the flow of resources across product, factor, and financial arenas. Students complete an exit ticket describing a real‑world example of resource allocation. For homework, they research a local market and write a short paragraph linking it to the concepts learned.