Economics Lesson Notes for SS1 2nd Term

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Senior Secondary School 1 Second Term Economics Scheme of work with lesson notes content

WEEK 1: CAPITAL AS A FACTOR OF PRODUCTION

 (MEANING, TYPES, CHARACTERISTICS, IMPORTANCE OF CAPITAL), ENTREPRENEUR AS A FACTOR OF PRODUCTION (MEANING AND FUNCTIONS.

WEEK 2: DIVISION OF LABOUR (MEANING OF ORIGIN, ADVANTAGES AND DISADVANTAGES, LIMITATIONS)

SPECIALIZATION (MEANING, ADVANTAGES AND DISADVANTAGES)

WEEK 3: SCALE OF PRODUCTION (SMALL, MEDIUM AND LARGE)

1. MEANING OF SCALE OF PRODUCTION
2. CHARACTERISTIC OF SCALE OF PRODUCTION(INTERNAL AND EXTERNAL ECONOMIES OF SCALE) INTERNAL AND EXTERNAL ECONOMIES

WEEK 4 FIRM AND INDUSTRY

1. Definition of firm, plant and industry
2. Factors that determine the size of a firm
3. Concept of total-product(TP), marginal product (MP) and average product(AP)

WEEK 5:  Business organization

1. Meaning and types

Sole proprietorship and partnership

1. Their meaning

• Characteristics

1. Source of fund
2. Advantages and disadvantages
3. Contributions to the economy

WEEK 6 : Joint stock companies

1. Private and Public liability companies
2. Characteristics

• Advantages and disadvantages

1. Contributions to the economy
2. Shares, bounds, debentures etc

WEEK 7:   Co-operation society

1. Meaning and types
2. Features

• Advantages and disadvantages

WEEK 7 :  Public Enterprises

1. Meaning and types
2. Features

• Reasons for setting up

1. Advantages and disadvantages

WEEK 8: Population

1. Definition
2. Determinants of population size

• Population growth, (increasing population and ageing) declining population

1. Implication of size and growth of population

WEEK 9: Population census

1. Definition
2. Types

• Importance

1. Problems

Population structure or distribution (sex, age, geographical & occupational distribution)

WEEK 10: Theories of population

• Malthusian theory
• Demographic transition theory
• Population and economic development, under population, optimum & over population
• How to control population growth
• How to control population growth

WEEK: 11  LABOUR MARKET

                  LABOUR MARKET

            DEFINITION

            CONCEPT OF LABOUR FORCE

             FACTORS AFFECTIONG THE SIZE OF LABOUR FORCE

            MOBILITY OF LABOUR

SSS1 Second Term Economics Lesson Note – Edudelight Store