IGCSE Business Chp. Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of...

IGCSE Business Chp. Chp. 1 & 2

Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive

• Class : Y10

• Lesson Topic: Factors of Production & Sectors of Economy.

• Scheme of Work: Business Operation in Environment.



Tell me three things...

about the topic we are studying.Or,

you learnt in the last lesson.

STARTER



Questions you would like to ask

Today we will begin studying ____________. What are the questions you would like answered.



Noun Play

_________ is like (a) ________ because….

First blank is for the topic, concept etc.Second blank is for the random noun.

e.g. Communication is like driving because…



Lesson Objectives P&DPlanning and

Data

ALL (KNOWLEDGE) Describe a business sector of the economy using factors of production

MOST (ANALYSIS) • Analyse a sector of the economy.

• SOME (EVALUATION ) • Evaluate the usefulness of a factors of production to a firm.

Higher thinking

Skills



CONNECTIVES for AnalysisCONNECTIVES for ApplicationCONNECTIVES for Evaluation

COMPARINGEqually…As with…Like…In the same way…Similarly…Even so…Likewise…CAUSE & EFFECT

Consequently… Due to…As a result… Therefore..Because of… Because…

CONCLUDINGFirstly… After…Secondly… Before…Overall… I believe…Finally… I think …In conclusion… it depends…To conclude… short term…Meanwhile… Long term…

CONTRASTINGAlthough… Except…Moreover… If…However… Yet…Apart from… Unless…Despite… As long as…

EMPHASISINGMost importantly…Significantly…Notably…Especially…Above all…In particular…Indeed…

QUALIFYINGDespite… Yet…As long as… Unless…Apart from… If…Moreover… Except…However… Although…

ADDINGIn addition… And…Too… Also…Additionally… As well as…Furthermore…

ILLUSTRATINGFor instance… Such as…In the case of… So…For example…As revealed by…As illustrated by…



Present New Information With partner explain all the things needed for a Coffee shop to operate.

e.g. beans, managers, coffee machines…..

PNI



• Factors of Production (5mins)

• Explain; • 1. Land• 2. Labour • 3. Capital • 4. Enterprise

Why is enterprise so important?

https://www.youtube.com/watch?v=hG9PQHD5ROA



Present New Information • Explain which are • 1. Land• 2. Labour • 3. Capital • 4. Enterprise beans, workers, coffee machines, money, managers, CEO, farmers, water, milk, plastic cups, fruit, tractors, retail shops, sales team, cream, baristas, manufacturers, water, bank loan ..

PNI



Task…

• Choose your own business; (e,g. car, sports brands, McD, farmer)

• And identify 3 factors of production for each factor (e.g. Land – water)

• 12 answers all together…

• FARMER

• Land

• Labour

• Capital

• Enterprise



Present New Information PNI

Discuss what factors of

production are in pictures?

Capital or Labour

Intensive?



Present New Information

Watch Sectors of the Economy

1. Primary – Extracting raw materials2. Secondary – Manufacturing into goods3. Tertiary – Providing a service

PNI

Can you match these to the factors of production?

https://www.youtube.com/watch?v=XRlkFcheyR0



Present New Information PNI

Discuss which sector of

economy is evident in pictures?

Which is most productive?

Which requires more

investment in capital? more

Training?



Present New Information Which sectors of economy produce these items?

beans, workers, coffee machines, money, managers, CEO, farmers, water, milk, plastic cups, fruit, tractors, retail shops, sales team, cream, baristas, manufacturers, water, bank loan ..

PNI



Is it feasible for UK to grow its own bananas?

• Specialisation – The concentration of a firm or economy to produce a particular good or service.

• Exchange – Process of trading goods and services



Where are these goods and services produced?• Oil• Wheat• Digital TVs• Cars• Movies

• Identify these products as good or service. • Can they be classified as a Factor of Production too?

• Qatar specialises in oil and gas • USA (West) therefore specialises in Movie production



• Check the Label on your clothing. Where was it made?

• why are many clothes products made in Asia?



Benefits of Specialisation

• Increases output for all countries if each specialises in their strength. (Bananas wouldn’t grow well in UK)

• Greater variety of goods and services available.

• Trade is the means by which economies grow. Developing become Developed (e.g.China’s economy doubles every 7yrs)



Drawbacks of Specialisation• Resources can run out (e.g. Oil, copper). What happens

then?

• Weather affects production (Russian fires affecting wheat prices)

• Consumer tastes change leaving countries exports vulnerable (tourism)

• Global disasters can now affect people millions of miles away –



Division of Labour • To ensure competitiveness once a firm or economy specialises in

production of a good or service. Labour costs must be kept low.

• Definition – Specialisation of labour into separate tasks.

• This insures higher PRODUCITIVTY per worker

• Big Bang Video..



Exam Question (4m)• Explain why your clothes from Asia are so inexpensive.

• Use the concepts of: • Specialisation• Division of labour



CONNECTIVES for AnalysisCONNECTIVES for ApplicationCONNECTIVES for Evaluation

COMPARINGEqually…As with…Like…In the same way…Similarly…Even so…Likewise…CAUSE & EFFECT

Consequently… Due to…As a result… Therefore..Because of… Because…

CONCLUDINGFirstly… After…Secondly… Before…Overall… I believe…Finally… I think …In conclusion… it depends…To conclude… short term…Meanwhile… Long term…

CONTRASTINGAlthough… Except…Moreover… If…However… Yet…Apart from… Unless…Despite… As long as…

EMPHASISINGMost importantly…Significantly…Notably…Especially…Above all…In particular…Indeed…

QUALIFYINGDespite… Yet…As long as… Unless…Apart from… If…Moreover… Except…However… Although…

ADDINGIn addition… And…Too… Also…Additionally… As well as…Furthermore…

ILLUSTRATINGFor instance… Such as…In the case of… So…For example…As revealed by…As illustrated by…



Exam style questions A-A*

1. Discuss2. Evaluate

(8-12m) 8+ connectives & key words

C-B

1. Explain 2. Analyze

(5-7 m) 5+ connectives & key words

E-D

1. Identify 2. Define

(2-4m) 2 + connectives & key words

ATDApply to

demonstrate



Lesson Objectives P&DPlanning and

Data

ALL (KNOWLEDGE) Describe a business sector of the economy using factors of production

MOST (ANALYSIS) • Analyse a sector of the economy.

• SOME (EVALUATION ) • Evaluate the usefulness of a factors of production to a firm.

Higher thinking

Skills



Questions you would like to aske.g.

Today we have been studying_______________.

Think of 1 questions to ask other people in the class about today’s lesson.

PLENARY



Freeze Frame

Students have to produce a freeze-frame showing one aspect of their learning.

E.G. A communication method or a finance or a sector of the economy

http://www.curriculumsupport.education.nsw.gov.au/litnum/thrudoorway/images/groupD2.gif



Spell a key word to your friend using sign language…



Exam Question

Write an exam question based on your learning today. Then, swap books and answer someone else’s question.

Answer PLAN: Intro – define key wordExplain 1 advantage (BLT)Explain 1 disadvantage (BLT)Conclude – I think, however, it depends…

E.g. Discuss whether a bank loan is suitable for business startup .

Start with; Discuss or Evaluate whether or To what extent is _______________________________________________________________________________________________________________________________________ (6m)

3+ connectives 3+ key words

IGCSE Business Chp. Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of...

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