**Lesson Plan: Senior Secondary 1 Economics**
**Topic: Basic Economic Problems of Society**
**Duration:** 60 minutes
**Objective:**
- To understand the fundamental economic problems faced by societies: what to produce, how to produce, and for whom to produce.
- To explore the concepts of scarcity, choice, and opportunity cost.
**Materials Needed:**
- Whiteboard and markers
- Projector and laptop
- Handouts with key concepts
- Case study examples
- Worksheets for activities
**Lesson Outline:**
1. **Introduction (10 minutes)**
- **Greeting and Attendance:** Greet students and take attendance.
- **Hook:** Start with a real-world scenario: "Imagine you have only $20 to spend for the week and need to buy food, school supplies, and a small birthday present for a friend. What would you spend it on?"
- Briefly discuss student choices and introduce the concept of scarcity and choice.
2. **Lesson Presentation (20 minutes)**
- **Definition:**
- Define scarcity: Limited resources vs. unlimited wants.
- Introduce the three basic economic problems: What to produce? How to produce? For whom to produce?
- **Explanation:**
- **What to Produce?**
- Discuss the need for societies to decide on the types of goods and services to produce based on resources and needs.
- Use examples like healthcare, education, and consumer goods.
- **How to Produce?**
- Explain different methods of production (labor-intensive vs. capital-intensive).
- Mention the importance of efficiency and technology.
- **For Whom to Produce?**
- Discuss the distribution of goods and services.
- Explain how different economies approach distribution: market economy, command economy, and mixed economy.
- **Concepts of Choice and Opportunity Cost:**
- Explain how choices are made due to scarce resources.
- Define opportunity cost: the next best alternative foregone when a decision is made.
- Provide simple examples, like choosing between spending time studying or hanging out with friends.
3. **Class Activity (15 minutes)**
- **Group Discussion:**
- Divide students into small groups.
- Provide each group with different case studies (e.g., a country with limited water resources, a developing nation with abundant labor but limited technology).
- Ask them to identify the three basic economic problems within their case study and propose possible solutions.
- **Presentation:**
- Each group presents their case study and solutions to the class.
- Facilitate discussion with probing questions.
4. **Recap and Q&A (10 minutes)**
- **Recap:** Summarize the key points of the lesson. Highlight the importance of understanding economic problems for informed decision-making.
- **Q&A:** Open the floor for any questions. Clarify any doubts the students might have about the three basic economic problems.
5. **Wrap-Up and Homework (5 minutes)**
- **Conclusion:** Conclude by emphasizing the relevance of these concepts in daily life and broader societal issues.
- **Homework Assignment:**
- Assign a short essay: "Describe a basic economic problem your community faces and suggest possible solutions."
- Distribute a worksheet with additional practice problems on scarcity, choice, and opportunity cost for reinforcement.
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**Assessment:**
- Participation in group discussions.
- Evaluation of group presentations.
- Review and feedback on homework assignment.
- Analysis of completed worksheets.
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This plan provides a structured yet flexible approach to teaching the basic economic problems of society, engaging students through real-world application and active participation.