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K–12 teaching and learning · from the UNC School of Education

The economics of the family farm: A primer

http://www.econedlink.org/lessons/index.cfm
?lesson=NN122&page=nnlprimer&page=teacher

A lesson plan for Grades 10–12 Economics

Provider: National Council on Economic Education

About this resource

Appropriate grades
10–12
Provider
National Council on Economic Education

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This resource, from the National Council on Economic Education, is a primer on the economics of agriculture. This activity will introduce students to some basic agricultural economics knowledge necessary for interpreting the agricultural events seen in the news. Topics covered include factors of production, expenses, and profits. Students will examine a number of indices to determine if the prices received by farmers are going up or down, and use an Excel spreadsheet to determine if farming is more or less profitable than it was five years ago. This resource is part of the lesson plan, “The Economics of the Family Farm.”

North Carolina Curriculum Alignment

Social Studies (2003)

Grade 10 — Economics and Civics

  • Goal 7: The learner will investigate how and why individuals and groups make economic choices.
    • Objective 7.01: Describe the basic factors of production such as land, labor, capital, and entrepreneurial skills and their impact on economic activities.
    • Objective 7.05: Explain the impact of investment on human, capital, productive, and natural resources.
  • Goal 8: The learner will analyze features of the economic system of the United States.
    • Objective 8.03: Explain the circular flow of economic activities and how interactions determine the prices of goods and services.
  • Goal 9: The learner will analyze factors influencing the United States economy.
    • Objective 9.03: Explain the impact of the movement of human and capital resources on the United States economy.

Grades 11–12 — Economics

  • Goal 2: The learner will analyze the role that supply and demand, prices, and profits play in determining production and distribution in a market economy.
    • Objective 2.03: Describe the role of producers and consumers in determining the equilibrium price.
    • Objective 2.06: Describe the primary factors of production and their impact on the standard of living.
  • Goal 5: The learner will examine the various ways economic performance is measured.
    • Objective 5.01: Describe the various economic performance indicators and explain how they are calculated.