SHS1 Economics · Semester 1 Week 13: Production of Goods and Services

Lesson notes

Learning Objectives

Indicator: 1.2.1.LI.1 - Explain the meaning of factors of production.

By the end of the lesson, learners can:

Define factors of production as the resources used in the production of goods and services.
Identify and name the five factors of production: land, labour, capital, entrepreneurial ability, and technology.
Explain the distinguishing features of each factor of production in their own words.
Classify given resources (e.g., a cocoa farm, a sewing machine, a carpenter, a business owner, software) into the correct factor of production.
Research information about the factors of production using search engines and present findings to the class with clear examples from Ghanaian businesses and daily life.

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Curriculum details

Strand: Firms' Innovative Decision Making (Strand 2)
Sub-strand: Production of Goods and Services (2.1)
Content standard: 1.2.1.CS.1 - Demonstrate knowledge and understanding of Factors of Production. 1.2.1.LO.1 Evaluate the relevance of factors of production. 1.2.1.LO.2 Evaluate the relevance of the concepts of production, location and localisation of industries, division of labour and specialisation in production.
Indicator: 1.2.1.LI.1 - Explain the meaning of factors of production.
Suggested placement: Semester 1, Week 13 (Week 13 of the year)
Our suggestion, laid out in curriculum order across three terms of twelve weeks. NaCCA does not fix the week, so follow your school's scheme of learning.
Curriculum reference: NaCCA curriculum document, p. 35

Exemplars (from the NaCCA curriculum)

Talk for Learning Approaches (TfL): Form five different groups based on the five economic resources or factors of production (land, labour, capital, entrepreneurial ability and technology) and with the help of search engines, research information about the factors of production, and cite examples. Be sensitive to the inter-relatedness of the various spheres of life, groups, gender, ability and individuals in forming the five groups.
Assessment (1.2.1.AS.1). The document marks these depth-of-knowledge levels for this indicator: Level 3 Strategic reasoning.
Teaching and Learning Resources:
- Textbooks
- Computers
- Internet
- Search engine such as google web etc.
- ICT Lab
- Pens
- Exercise books
- Marker
- White board
- Projectors