Lesson Plan

• Describe the five core characteristics of a competitive market.
• Explain how profit‑maximising behaviour leads to allocative and productive efficiency.
• Analyse at least three advantages and three disadvantages of competitive markets.
• Apply the competitive‑market model to answer typical IGCSE exam questions.

• Projector and screen
• PowerPoint/Google Slides presentation
• Printed worksheet with diagram prompts
• Graph paper and coloured pens
• Sample supply‑demand diagram handout
• Exit‑ticket slips

Begin with a quick poll: “Which everyday products do you think are sold in perfectly competitive markets?” Use responses to link prior knowledge of buyers and sellers, then state that today’s success criteria are to identify market characteristics, illustrate efficiency, and evaluate strengths and weaknesses.

1. Do‑now (5'): Students list product examples; teacher records on board.
2. Mini‑lecture (10'): Present the five characteristics with real‑world examples using slides.
3. Diagram activity (12'): In pairs, sketch the supply‑demand graph for a competitive market and label equilibrium, MC, ATC.
4. Efficiency discussion (8'): Guided Q&A on allocative vs. productive efficiency, using the sketched diagram.
5. Advantages & disadvantages carousel (12'): Groups rotate stations with prompts; each records one advantage and one disadvantage on a shared sheet.
6. Whole‑class synthesis (8'): Teacher consolidates points into a summary table on screen.
7. Formative check (5'): Quick quiz (Kahoot or hand‑out) to confirm understanding of key concepts.

Recap the main features, efficiency outcomes, and market failures of competitive markets. Students complete an exit ticket stating one advantage and one disadvantage they find most significant. Assign homework: answer two past‑paper questions on competitive markets, using the summary table as a guide.