Revision Expected Learning Outcomes General Literacy Numeracy & Comprehension, writing, Language, The students will be able to do the following: 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 Understand the concepts of marginal revenue productivity (MRP) and marginal Powerpoints Collated SEC exams & physical productivity (MPP) schemes Examine the factors that affect MRP and MPP Q & A using Bloom’s Understand that the demand curve for a prompts factor of production is its MRP curve STUDYCLIX HL Apply MRP theory to both perfect FOP matching exercise Think-pair-share competition and monopoly/imperfect STUDYCLIX OL competition Visual verbal square Illustrate the concepts of supply price, economic rent, quasi economic rent and transfer prices LEAVING CERTIFICATE ECONOMICS MICRO TOPIC 8: FACTORS OF PRODUCTION – LAND WEEK:
Expected Learning Outcomes The students will be able to do the following: 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 Understand the concepts of marginal revenue productivity (MRP) and marginal physical productivity (MPP) Examine the factors that affect MRP and MPP Understand 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 LEAVING CERTIFICATE ECONOMICS MICRO TOPIC 8: FACTORS OF PRODUCTION – LAND WEEK: