51ºÚÁÏ

This engaging, student-led activity introduces the Factors of Production—land, labour, capital, and entrepreneurship—through the foundational economic concepts of scarcity, choice, and opportunity cost. Designed for early IBDP Economics learners, this resource combines real-world case studies, critical thinking, and creative application to help students move beyond definitions and understand how economic decisions are made in practice.

The resource includes:

A structured student worksheet with clear definitions and guided notes

Four real-world production scenarios for analysis and decision-making

A card sort activity linking factors of production to different forms of scarcity

A creative planning task where students allocate limited resources to a new product or business idea

A concise exit ticket task with model responses included

Ideal for first-year IBDP students, advanced MYP learners, or as a review of fundamental microeconomic concepts. This resource supports inquiry, collaboration, and real-world economic thinking—ready to print and teach.