Lesson Plan

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Lesson Plan
Grade: Date: 05/03/2026
Subject: Economics
Lesson Topic: Objectives of firms: survival, social welfare, profit maximisation and growth
Learning Objective/s:
  • Describe the four primary objectives of firms (survival, social welfare, profit maximisation, growth).
  • Explain how each objective influences firm decisions in the short and long run.
  • Apply the break‑even and MR = MC conditions to evaluate survival and profit‑maximising behaviour.
  • Analyse how firms balance multiple objectives and the implications for market behaviour.
  • Evaluate growth strategies and their impact on economies of scale.
Materials Needed:
  • Projector or interactive whiteboard
  • Slide deck summarising objectives and key formulas
  • Handout with comparison table of objectives
  • Worksheet with short case studies for group analysis
  • Calculator for break‑even calculations
  • Markers and chart paper for group diagram activity
 Introduction:
Begin with a quick poll: “What do you think drives a business to keep operating?” Connect responses to prior learning about firm costs and revenue. Today’s success criteria: you will be able to identify and explain the four main objectives of firms and illustrate how they shape decision‑making.
Lesson Structure:
  1. Do‑now (5’) – Students answer the poll question on sticky notes; teacher records ideas.
  2. Mini‑lecture (10’) – Present the four objectives with real‑world examples; show formulas on screen.
  3. Guided practice (12’) – Work through break‑even calculation and MR = MC condition using a calculator.
  4. Group activity (15’) – Analyse a case study; each group decides which objective is dominant and justifies.
  5. Whole‑class discussion (8’) – Groups share findings; teacher highlights interplay of objectives.
  6. Diagram sketch (5’) – Students draw a profit‑maximising graph indicating MR, MC, and break‑even point.
  7. Check for understanding (5’) – Quick quiz (exit ticket) with three short questions.
Conclusion:
Summarise how survival, social welfare, profit maximisation and growth each guide firm behaviour and can coexist. Ask students to complete an exit ticket describing which objective would be priority for a start‑up versus a multinational. For homework, assign a brief research task to find a real company that balances profit and social welfare and prepare a one‑page summary.