| Lesson Plan |
| Grade: |
Date: 25/02/2026 |
| Subject: Economics |
| Lesson Topic: role of the entrepreneur in contemporary economies: risk and organisation of the other factors of production |
Learning Objective/s:
- Describe the four factors of production and the entrepreneur’s distinct role.
- Explain how entrepreneurs assess and manage market, technological, and financial risk.
- Analyse how entrepreneurs organise land, labour and capital to achieve profit maximisation.
- Evaluate contemporary challenges such as digital transformation and sustainability on entrepreneurial decisions.
- Apply a simple profit‑maximising framework to a case‑study of a tech start‑up.
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Materials Needed:
- Projector or interactive whiteboard
- Slide deck summarising factors of production and risk types
- Handout with case‑study details and checklist
- Whiteboard markers and flip chart
- Sticky notes for risk‑brainstorming activity
- Calculator or spreadsheet template for profit‑maximisation exercise
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Introduction:
Begin with a quick poll: “What modern product would you create if you owned a business?” This activates prior knowledge of entrepreneurship and links to the four factors of production. Explain that today’s lesson will unpack how entrepreneurs bear risk and organise land, labour and capital, and outline the success criteria: students will be able to define the entrepreneur’s role, analyse risk‑management strategies, and apply a profit‑maximising framework.
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Lesson Structure:
- Do‑Now (5’) – Students write a brief product idea and identify which factor(s) of production are needed; teacher notes misconceptions.
- Mini‑lecture (10’) – Present the four factors, emphasise the entrepreneur as the fourth factor, and introduce risk categories and organisational decisions (slides).
- Case‑Study Analysis (15’) – In pairs, students work through the tech start‑up vignette, completing a worksheet that maps risk types, factor allocation, and innovation; groups share key points.
- Interactive Risk‑Management Simulation (10’) – Teams list mitigation strategies for market, technological and financial risk on sticky notes and place them on a board; whole‑class debrief.
- Profit‑Maximisation Exercise (10’) – Using a simple spreadsheet, students calculate marginal product of capital versus its cost to determine the optimal input mix for the case study.
- Formative Check (5’) – Exit ticket: “One way entrepreneurs organise the factors of production to reduce risk.”
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Conclusion:
Summarise how the entrepreneur integrates land, labour and capital while navigating diverse risks, linking back to the profit‑maximising condition. Collect the exit tickets for a quick recap, and assign homework: research a real‑world entrepreneur who has incorporated sustainability into their business model and prepare a short summary for the next class.
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