Week 4- Lesson 3 - factors affecting supply.pptx

igcse edexcel economics demand

1. Starter task – Reinforcement

2. 5 TO BEGIN 5 4 3 2 1 Driving Question: Analyse the reasons for changes in supply How Supply and price are related How demand and price are related A factor which can change supply Economics/GL:

3. Factors affecting Supply

4. Learning Objective: To determine reasons for changes in supply Success Criteria: Identify how supply is defined List changes in price cause movement along the supply curve Analyze why supply can only change quantity supplied Explain the relationship in a supply schedule & supply curve Topic: Supply Curriculum Reference : the supply curve, movement along the supply curve, shifts in the supply curve,

5. Key Vocabulary Indirect taxes Prductivity Consumption Subsidy

6. Teach and Model

7. Fcators that may shift the supply curve

8. Shift in the supply curve

9. Plenary

10. Self assessment

11. Complete the given task by collaborating with your colleagues. Main Task/Differentiated Task: (HA/MA &LA) Learning Skill- Collaboration/Communication Success Criteria: I can draw and label supply curve. I can explain role of stakeholders

12. Group two High order questions 1 How will the use of EPS panels and aluminum formwork improve the supply of housing in Kenya? Use a diagram in your explanation.

13. Past paper question Group three 3 Describe one measure the Kenyan government could take to help increase the supply of houses in the country.

14. Group Four Higher-Order Challenge : 4 What is the possible effect on the supply of houses in Kenya if construction companies had to pay much higher wages to workers. Use a diagram in your explanation.

15. Self Assessment 1. Technological developments in the construction industry have provided house builders in Kenya with new, more efficient ways of constructing houses. The use of EPS panels and aluminium formwork will help to reduce the costs of construction for house builders. As a result there will be an increase in the supply of houses in Kenya. In the diagram below, the supply curve for houses will shift to the right from S1 to S2. This will result in an increase in the quantity sold at p1 from q1 to q2.

16. Peer Assessment 2. A measure that the government could use to increase the supply of houses in Kenya is to grant house builders a subsidy. This would lower production costs for house builders and therefore increase supply. The effect of a government subsidy in the market is to shift the supply curve to the right. 3. If construction companies had to pay higher wages to workers, their production costs would be higher. As a result, house builders would build fewer houses, thus decreasing the quantity supplied. The supply curve for houses would again shift to the left from S1 to S2 in the diagram below. As a result house prices would rise from p1 to p2.

17. Exit ticket. Progress check https://www.savemyexams.com/igcse/economics/cie/20/topic-questions/2-the-allocation-of-resources/2-3-demand/paper-1/#hard

18. Work home task – pg 36