Firms’ Costs, Revenue and Objectives Lesson Plan IGCSE Economics

Lesson Plan
Topic: Firms’ Costs, Revenue and Objectives Lesson Plan IGCSE Economics- ‘MS word doc.’
Lesson Objective: are shared with the students for awareness and expectation of lesson outcome.
At the end of the lesson, the students will be able to;
define costs of production - Total cost (TC), average total cost (ATC), fixed cost (FC), variable cost (VC), average fixed cost (AFC), average variable cost (AVC). Note: marginal cost not required.

• Calculation of costs of production - TC, ATC, FC, VC, AFC and AVC. Definition, drawing and interpretation of diagrams that show how changes in output affect costs of production.
• Definition of revenue - Total revenue (TR) and average revenue (AR). Note: marginal revenue is not required. Calculation of TR and AR.
• Objectives of firms - The influence of sales on revenue. Survival, social welfare, profit maximisation and growth.
  NB: You can add your school’s name, and logo on top, you own name, date, and class year, term and week. Also, you can rejig it for more than a lesson topic by editing the objectives, Plenary and lesson starter etc.