Lesson Plan

• Identify the four factors of production (land, labour, capital, enterprise) and their key characteristics.
• Explain how each factor contributes to business operations and decision‑making.
• Analyse the interaction of the factors using a real‑world company example.
• Evaluate the impact of changes in any factor on a firm’s competitive advantage.

• Projector or interactive whiteboard
• Slide deck summarising each factor
• Handout with summary table and circular‑flow diagram
• Case‑study worksheets (e.g., Apple, Toyota, local SME)
• Markers and flip‑chart paper
• Exit‑ticket slips

Start with a quick poll: “What resources does a business need to produce a product?” Connect responses to prior knowledge of inputs, then set the success criteria that students will be able to identify and explain the four factors of production and their role in business activity.

1. Do‑now (5’) – Students list resources a business uses; share a few examples.
2. Mini‑lecture (10’) – Present the four factors with slides and a circular‑flow diagram.
3. Guided analysis (12’) – Work through the summary table, discussing key examples and typical costs.
4. Case‑study activity (15’) – In pairs, complete a worksheet identifying each factor for a chosen company and analyse its competitive advantage.
5. Whole‑class debrief (8’) – Groups present findings; teacher highlights connections and corrects misconceptions.
6. Quick check (5’) – Kahoot quiz or exit‑ticket questions to assess understanding.

Recap the four factors and how they interact to drive business success. Collect exit tickets where students name one factor and describe its impact on a chosen company. For homework, ask students to research another business and write a short paragraph linking its competitive advantage to the factors of production.