Lesson Plan: Economics - Factors of Production

Designed for Grades: 11-12

Estimated Time: 50 minutes

National Standards: Complies with NBEA Economics 2023 Standard I.1 Assess opportunity costs and tradeoffs involved in making choices about how to use scarce economic resources

Objectives:

I.1.3 Demonstrate how resources (factors of production) may be used to satisfy economic wants.

Materials:

● White Board or Smart Board

● Pictures of resources (handouts)

● Tape (or adhesive safe for smart board)

● Quiz (handout)