Grade 8 - Economics

Date: 29/9/10 Subject: Economics
Students of grade 8 were first instructed to make 1 product each using limited resources like papers, stationary items etc, they were asked to design their own product. Later on the students were divided into groups of 5 each. They were asked to select the product made by others and produce the same in quantity in a stipulated time period. Hence, the concept of individual and specialized production was explained and discussed. The students were also asked to give a presentation on the same. They divided their resources into different factors of production like land, labour, capital and enterprise.