the interactions between the main economic groups. The factors of Critical thinking and Students will be able to: Economic resources: Student production reasoning through activity separating resources understand the nature of an For reference – understanding the into categories of land, labour, economic resource rewards of each capital and enterprise. identify and understand examples of factor of the four factors of production (land, production. labour, capital and enterprise) and the reward accrued to each. Making choices Thinking critically Students will be able to understand: The basic economic problem: about the teacher-led presentation of the how and why choices are made, motivations for and basic economic problem and and how costs and benefits can be effects of choices what how and for whom to weighed up to make a choice and use of analysis produce. the concept of opportunity cost in and reasoning to the context of economic activity. Scarcity: teacher-led look at formulate how choices have an conclusions. opportunity cost. This could be in the context of the students’ lives for example buying a new phone. Resource allocation Total teaching time: 5 hours + 2 hours for assessment activities
the interactions between the main economic groups. The factors of production Critical thinking and reasoning through understanding the rewards of each factor of production. Students will be able to: understand the nature of an economic resource identify and understand examples of the four factors of production (land, labour, capital and enterprise) and the reward accrued to each. Economic resources: Student activity separating resources into categories of land, labour, capital and enterprise. For reference – Making choices Thinking critically about the motivations for and effects of choices and use of analysis and reasoning to formulate conclusions. Students will be able to understand: how and why choices are made, and how costs and benefits can be weighed up to make a choice the concept of opportunity cost in the context of economic activity. The basic economic problem: teacher-led presentation of the basic economic problem and what how and for whom to produce. Scarcity: teacher-led look at how choices have an opportunity cost. This could be in the context of the students’ lives for example buying a new phone. Resource allocation Total teaching time: 5 hours + 2 hours for assessment activities
AQA-8136-SOW.DOCX