Lesson Plan

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Lesson Plan
Grade: Date: 17/01/2026
Subject: Economics
Lesson Topic: nature and definition of factors of production: land, labour, capital and enterprise
Learning Objective/s:
  • Describe the definition and key characteristics of land, labour, capital and enterprise.
  • Explain the typical income each factor generates (rent, wages, interest/profit, profit).
  • Compare how the four factors combine to enable production and affect economic outcomes.
  • Analyse basic policy implications linked to each factor (e.g., land taxes, minimum wage, investment incentives, R&D support).
Materials Needed:
  • Projector and laptop for slide presentation
  • Whiteboard and markers
  • Printed handout of the factors of production summary table
  • Worksheet with matching and short‑answer questions
  • Sticky notes for exit tickets
 Introduction:

Begin with a quick poll: “What resources do you need to bake a cake?” link the responses to the four factors of production. Review students’ prior knowledge of land and labour from previous lessons. State that by the end of the lesson they will be able to identify and explain each factor and its role in the economy.
Lesson Structure:
  1. Do‑now (5') – 3‑question quiz on basic definitions of the factors; collect answers for immediate feedback.
  2. Mini‑lecture with slides (15') – Present concise definitions, characteristics, and typical income for land, labour, capital, and enterprise.
  3. Group mind‑map activity (10') – Students work in fours to create a visual mind‑map of one factor each, using the handout and adding real‑world examples.
  4. Class discussion (10') – Groups share their maps; teacher highlights similarities/differences and introduces policy implications.
  5. Worksheet application (10') – Individual task matching examples to factors and answering short questions on income types.
  6. Recap & exit ticket (5') – Quick oral recap, then students write one key takeaway on a sticky note and place it on the board.
Conclusion:

Summarise how the four factors interact to produce goods and services and why each earns a distinct form of income. Collect exit tickets to gauge understanding and assign homework: research a current news article that illustrates each factor in action and prepare a one‑minute summary for the next class.