Sample lesson plan 12: Price mechanism

Context Syllabus Reference

This lesson follows the lesson that introduces the 2.2 The role of markets in allocating resources
market economic system and how resources are Topic 2.2.3 Introduction to the price mechanism
allocated in such a system.

Resources Learning Outcomes

• Coursebook Chapter 6.4 • To outline how the price mechanism provides
• YouTube clip (see Scheme of work 2.2/6) answers to the key allocation questions.
• Scenario based on a recent change in a
market and related questions (see Main below)
• Group Activity 1
• MCQs
• Four-part question

Introduction
Show YouTube clip of an auction. Ask: What are the aims of buyers and sellers?

Main
Give students a scenario based on a recent change in a market they will be familiar with, for example,
a rise in the price of property in the capital city. Ask them, in groups, to discuss the answers to three
questions. For example:
• Why may construction firms decide to build more houses and flats in the capital?
• Will the construction firms be likely to use mainly workers or machines?
• Are wealthy or poor people most likely to buy new property?
Responses should elicit the key questions: what is produced, how is output produced and who gets
the output produced.
Students, in groups, answer Group Activity 1.

Plenary
MCQs 1–4

Homework
Four-part question

Differentiation Assessment Opportunities

Group Activity 1 – change composition of groups • Group Activity 1
and representatives • MCQs
• Four-part question

Evaluation
What went well/even better/what would I do differently/how does this inform planning for the next
lesson?

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