Lesson Plan

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Lesson Plan
Grade: Date: 17/01/2026
Subject: Economics
Lesson Topic: rewards to the factors of production
Learning Objective/s:
  • Describe the four factors of production and their associated rewards (rent, wages, interest, profit).
  • Explain how marginal productivity and market conditions determine each reward.
  • Analyse the impact of policy and external factors on factor rewards.
  • Apply the reward concepts to real‑world examples using simple diagrams.
Materials Needed:
  • Projector and screen
  • Whiteboard and markers
  • Handout with summary table of factor rewards
  • PowerPoint slides with diagrams (MPL, land rent, loanable‑funds market)
  • Worksheets for group activity (calculating rewards)
 Introduction:
Begin with a quick think‑pair‑share: “What do you think determines how much a worker, a piece of land, or a business owner gets paid?” Link responses to prior learning about factors of production and introduce today’s focus on the rewards each factor receives. Outline the success criteria: students will be able to name each reward, explain its determinants, and illustrate the concepts with simple diagrams.
Lesson Structure:
  1. Do‑now (5’) – students list the four factors and their rewards on sticky notes.
  2. Mini‑lecture (10’) – present definitions and reward formulas using slides.
  3. Interactive diagram activity (10’) – groups plot MPL vs. wage and discuss equilibrium.
  4. Case‑study analysis (10’) – examine a news article on rent rise or profit change, identify determinants.
  5. Guided practice (10’) – worksheet calculations of rent, wages, interest using marginal product formulas.
  6. Check for understanding (5’) – quick Kahoot quiz on key determinants.
Conclusion:
Summarise how each reward links to marginal productivity and market forces, revisiting the key points. Ask students to write one exit‑ticket sentence stating which factor’s reward is most affected by government policy and why. Assign homework to find a current example of each reward in the news and prepare a brief explanation.