IGCSE Business Chp 1 2 Keywords factors of

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive • Class : Y 10 • Lesson Topic: Factors of Production & Sectors of Economy. • Scheme of Work: Business Operation in Environment.

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive Tell me three things. . . about the topic we are studying. Or, you learnt in the last lesson. STARTER

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive Questions you would like to ask Today we will begin studying ______. What are the questions you would like answered.

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive 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…

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive P&D Higher thinking Skills Lesson Objectives Planning 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.

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive CONTRASTING Although… Except… Moreover… If… However… Yet… Apart from… Unless… Despite… As long as… CAUSE & EFFECT Consequently… Due to… As a result… Therefore. . Because of… Because… CONCLUDING Firstly… After… Secondly… Before… Overall… I believe… Finally… I think … In conclusion… it depends… To conclude… short term… Meanwhile… Long term… COMPARING Equally… As with… Like… In the same way… Similarly… Even so… Likewise… CONNECTIVES for Analysis CONNECTIVES for Application CONNECTIVES for Evaluation EMPHASISING Most importantly… Significantly… Notably… Especially… Above all… In particular… Indeed… QUALIFYING Despite… Yet… As long as… Unless… Apart from… If… Moreover… Except… However… Although… ADDING In addition… And… Too… Also… Additionally… As well as… Furthermore… ILLUSTRATING For instance… Such as… In the case of… So… For example… As revealed by… As illustrated by…

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive PNI Present New Information With partner explain all the things needed for a Coffee shop to operate. e. g. beans, managers, coffee machines…. .

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive • Factors of Production (5 mins) • • • Explain; 1. Land 2. Labour 3. Capital 4. Enterprise Why is enterprise so important?

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive PNI 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. .

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive Task… • Choose your own business; (e, g. car, sports brands, Mc. D, farmer) • FARMER • And identify 3 factors of production for each factor (e. g. Land – water) • Land • 12 answers all together… • Capital • Labour • Enterprise

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive PNI Present New Information Discuss what factors of production are in pictures? Capital or Labour Intensive?

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive PNI Present New Information Watch Sectors of the Economy 1. Primary – Extracting raw materials 2. Secondary – Manufacturing into goods 3. Tertiary – Providing a service Can you match these to the factors of production?

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive PNI Present New Information Discuss which sector of economy is evident in pictures? Which is most productive? Which requires more investment in capital? more Training?

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive PNI 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. .

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive 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

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive 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

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive • Check the Label on your clothing. Where was it made? • why are many clothes products made in Asia?

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive 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 7 yrs)

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive 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 –

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive 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. .

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive Exam Question (4 m) • Explain why your clothes from Asia are so inexpensive. • Use the concepts of: • Specialisation • Division of labour

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive CONTRASTING Although… Except… Moreover… If… However… Yet… Apart from… Unless… Despite… As long as… CAUSE & EFFECT Consequently… Due to… As a result… Therefore. . Because of… Because… CONCLUDING Firstly… After… Secondly… Before… Overall… I believe… Finally… I think … In conclusion… it depends… To conclude… short term… Meanwhile… Long term… COMPARING Equally… As with… Like… In the same way… Similarly… Even so… Likewise… CONNECTIVES for Analysis CONNECTIVES for Application CONNECTIVES for Evaluation EMPHASISING Most importantly… Significantly… Notably… Especially… Above all… In particular… Indeed… QUALIFYING Despite… Yet… As long as… Unless… Apart from… If… Moreover… Except… However… Although… ADDING In addition… And… Too… Also… Additionally… As well as… Furthermore… ILLUSTRATING For instance… Such as… In the case of… So… For example… As revealed by… As illustrated by…

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive ATD Exam style questions A-A* Apply to demonstrate 1. Discuss 2. Evaluate C-B (8 -12 m) 8+ connectives & key words 1. Explain 2. Analyze E-D (5 -7 m) 5+ connectives & key words 1. Identify 2. Define (2 -4 m) 2 + connectives & key words

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive P&D Higher thinking Skills Lesson Objectives Planning 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.

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive Questions you would like to ask e. g. Today we have been studying________. Think of 1 questions to ask other people in the class about today’s lesson. PLENARY

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive 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

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive Spell a key word to your friend using sign language…

IGCSE Business Chp. 1 & 2 Keywords – factors of production, sectors of economy, division of labour, specialization, lab/capital intensive Exam Question E. g. Discuss whether a bank loan is suitable for business startup. Start with; Discuss or Evaluate whether or To what extent is ____________________________________ (6 m) Write an exam question based on your learning today. Then, swap books and answer someone else’s question. ü Answer PLAN: ü Intro – define key word ü Explain 1 advantage (BLT) ü Explain 1 disadvantage (BLT) ü Conclude – I think, however, it depends… 3+ connectives 3+ key words