Lesson Plan

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Lesson Plan
Grade: Date: 18/01/2026
Subject: Economics
Lesson Topic: Calculation of TR and AR
Learning Objective/s:
  • Calculate total revenue (TR) for a firm in a perfectly competitive market.
  • Determine average revenue (AR) and explain its relationship to the market price.
  • Apply a step‑by‑step procedure to compute TR and AR from given price and quantity data.
  • Interpret TR and AR values in a table and explain why AR equals price in perfect competition.
  • Use TR and AR calculations to answer typical exam questions.
Materials Needed:
  • Whiteboard or interactive whiteboard
  • Projector and screen
  • Slide deck with definitions and example table
  • Worksheets with practice price‑quantity scenarios
  • Calculator for each student
  • Graph paper for plotting TR and AR (optional)
 Introduction:
Begin with a quick poll: “If you sold 10 items at £5 each, how much money would you make?” This activates prior knowledge of multiplication and connects to revenue concepts. Review that revenue measures money received from sales and that in perfect competition the price is constant. Explain that by the end of the lesson students will accurately calculate total and average revenue and interpret the results.
Lesson Structure:
  1. Do‑now (5’) – Students solve a simple multiplication problem on sticky notes to recall the idea of revenue.
  2. Teacher input (10’) – Present definitions of TR and AR, formulae, and the relationship in perfect competition using slides.
  3. Guided practice (12’) – Walk through the step‑by‑step calculation using the widget example, filling in the table together.
  4. Independent practice (15’) – Students work on a worksheet with different price‑quantity sets, calculate TR and AR, and check answers with peers.
  5. Check for understanding (5’) – Quick quiz (Kahoot) with two questions on TR and AR formulas.
  6. Extension (5’) – Students sketch TR and AR curves on graph paper, noting the flat AR line.
Conclusion:
Summarise that TR rises with quantity while AR stays equal to the market price in perfect competition. Ask students to write a one‑sentence exit ticket stating the formula for AR and why it equals price. Assign homework: complete a set of price‑quantity problems and plot the corresponding TR and AR curves.