MICRO TOPIC 7: THE FACTOR MARKETS WEEK: (APPLICATION 4 OF RCT) Differentiated AfL & skills can be fostered through differentiated content, activities & Expected Learning Outcomes methodologies Revision General Literacy Numeracy The students will be able to do the following: & Comprehension, writing, Language, oral language strategies estimation, problem AoL solving strategies Define each of the factors of production Book page KWHL Revision resources Illustrate and explain the concept of derived Workbook page demand Worksheet no Class tests Demonstrate an understanding of the concepts of marginal revenue productivity Powerpoints Collated SEC exams & (MRP) and marginal physical productivity schemes (MPP) Q & A using Bloom’s Examine the factors that affect MRP and MPP prompts Demonstrate an understanding of that the STUDYCLIX HL demand curve for a factor of production is its FOP matching exercise Think-pair-share MRP curve STUDYCLIX OL Apply MRP theory to both perfect Visual verbal square competition and monopoly/imperfect competition Illustrate the concepts of supply price, economic rent, quasi economic rent and transfer prices
MICRO TOPIC 7: THE FACTOR MARKETS (APPLICATION 4 OF RCT) WEEK: Differentiated Expected Learning Outcomes The students will be able to do the following: AfL & skills can be fostered through differentiated content, activities & methodologies General Literacy Comprehension, writing, oral language strategies Numeracy Language, estimation, problem solving strategies Revision & AoL Define each of the factors of production Illustrate and explain the concept of derived demand Demonstrate an understanding of the concepts of marginal revenue productivity (MRP) and marginal physical productivity (MPP) Examine the factors that affect MRP and MPP Demonstrate an understanding of that the demand curve for a factor of production is its MRP curve Apply MRP theory to both perfect competition and monopoly/imperfect competition Illustrate the concepts of supply price, economic rent, quasi economic rent and transfer prices Book page Workbook page Worksheet no Powerpoints FOP matching exercise KWHL Q & A using Bloom’s prompts Think-pair-share Visual verbal square Revision resources Class tests Collated SEC exams & schemes STUDYCLIX HL STUDYCLIX OL