Production of Goods and Services

Curriculum details

Strand

Firms' Innovative Decision Making (Strand 2)

Sub-strand

Production of Goods and Services (2.1)

Content standard

2.2.1.CS.2 - Demonstrate understanding of Revenue Concepts. 2.2.1.LO.1 Use information gathered from the environment to determine the time periods, TP, AP, MP, labour and capital-intensive methods and the cost of production. 2.2.1.LO.2 Establish the relationships among Total Revenue (TR), Average Revenue (AR), and Marginal Revenue (MR).

Indicator

2.2.1.LI.1 - Determine Total, Average and Marginal Revenues.

Suggested placement

Semester 1, Week 14 (Week 14 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.

Source document note

The official curriculum document has a fault in this entry, so the curriculum text above is transcribed exactly as printed:

• core competencies - p.66 the document sets part of this text in a Calibri subset with no ToUnicode map, so the text layer reads as Latin Extended letters; the wording stored here was read off a 150 dpi render of printed page 66 and cross-checked against a letter-for-letter decode
• core competencies - p.67 the document sets part of this text in a Calibri subset with no ToUnicode map, so the text layer reads as Latin Extended letters; the wording stored here was read off a 150 dpi render of printed page 67 and cross-checked against a letter-for-letter decode

Curriculum reference

NaCCA curriculum document, p. 70

Exemplars (from the NaCCA curriculum)

Experiential Learning: Form mixed groups of different ability and gender and embark on a visit to the school canteen or nearby market or shop and interview the sellers on how much they sell a given good (price) and the total quantity of the goods available for sale. Use excel to generate a table for at least five goods with their respective prices and quantities available for sale. Use the data collected to determine the TR, AR and MR.
- Embracing diversity and practice inclusion
- Awareness of themselves and others taking into consideration their biases and stereotypes
Assessment (2.2.1.AS.1). The document marks these depth-of-knowledge levels for this indicator: Level 3 Strategic reasoning; Level 4 Extended critical thinking and reasoning.
Teaching and Learning Resources:
- Microsoft Excel
- Computers
- Projectors
- ICT lab
- Graph books
- Pencils
- Pens
- Markers
- White boards.