AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Household firm relationship.
Gross domestic product (GDP) and Gross National product (GNP). Per Capita Income.

By the end of the lesson, the learner should be able to:
Define a household and a firm as business terms.
Describe a household and a firm as producers and consumers and their role in a country's economic growth.

Q/A: review definition of economics, production economics.
Exposition & explanations.
Q/A & discussion.

resource person
calculator

KLB BK IV
Pg 96-97

Longhorn Bk 4
Pg 20-21

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Contribution of Agriculture to national development.
Land as a factor of production.

By the end of the lesson, the learner should be able to:
Explain contribution of Agriculture to development.

Brain storming;
Discussion.

student book

KLB BK IV
Pg 98-9
Longhorn Bk 4
Pg 90-91

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Labor as a factor of production.
Capital.

By the end of the lesson, the learner should be able to:
Define the term labor as used in production.
Explain ways of improving labor productivity.
Identify types of labor.

Oral questions & discussion.

chart

KLB BK IV
Pg 100-2

Longhorn Bk 4
Pg 93-4

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Management as a production factor.
Production function.

By the end of the lesson, the learner should be able to:
State functions of a manager in a farm.
Identify good qualities of a manager.

Q/A & discussion.

KLB BK IV
Pg 103-4

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Production function curves.
Increasing returns production functions.

By the end of the lesson, the learner should be able to:
Illustrate and interpret input-output relationship graphically.

Worked examples: supervised practice.

Graph papers.

KLB BK IV
Pg 106-7
Longhorn Bk 4
Pg 98

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Constant returns production functions.

By the end of the lesson, the learner should be able to:
Constant returns production functions.
Give empirical examples where Increasing returns production functions are experienced.

Tabulate inputs and outputs.
Graphical representation of constant returns production functions.

charts

KLB BK IV
Pg 108-9

Longhorn Bk 4
Pg 99

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Decreasing returns production functions.
Law of diminishing returns.

By the end of the lesson, the learner should be able to:
Decreasing returns production functions.
Give empirical examples where decreasing returns production functions are experienced.

Tabulate inputs and outputs.
Graphical representation of decreasing returns production functions.

graphs

KLB BK IV
Pg 109-10

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Zones of a PF curve.
The principles of substitution. Input-input relationship.

By the end of the lesson, the learner should be able to:
Divide a production function into three zones.
Identify rational zones of production.

Q/A: review AP, MP.
Guided discovery of the three zones.

Chart - Curve showing 3 zones of PF.

KLB BK IV
Pg 113-5
Longhorn Bk 4
Pg 101-2

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Product-product relationship. Supplementary and complementary products.
The principle of equi-marginal returns. The concept of cost.

By the end of the lesson, the learner should be able to:
Give examples of product-product relationship.

Give illustrative examples depicting supplementary and complementary products.

Oral questions: joint products, competitive products.

Discussion.

charts

KLB BK IV
Pg 116-7

Longhorn Bk 4
Pg 103

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Types of revenue.
Farm planning.

By the end of the lesson, the learner should be able to:
Compute total revenue, net revenue and marginal revenue given the relevant information.

Worked examples;
Explanations.

charts

KLB BK IV
Pg 119-120
Longhorn Bk 4
Pg 107

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Making a farm plan.
Farm budgeting.

By the end of the lesson, the learner should be able to:
Outline steps followed in making a farm plan.

Exposition, probing questions & discussion.

chart

KLB BK IV
Pg 122-3
Longhorn Bk 4
Pg 109

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Types of farm budgets.

By the end of the lesson, the learner should be able to:
Describe types of farm budgets.
Give examples of contexts where certain types of budgets are used.
Draw a partial budget.
Draw a complete budget.

Exposition & discussion,
Worked examples;
Supervised practice;
Written exercises.

chart

KLB BK IV
Pg 124-7

Longhorn Bk 4
Pg 110-1

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Farmer?s support services Extension, training & banking.
Credit. Sources of credit.

By the end of the lesson, the learner should be able to:
Describe extension, training & banking as support services to the farmers.

Exposition & explanations.

student book

KLB BK IV
Pg 127-8

Longhorn Bk 4
Pg 112-3

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Artificial insemination & Agricultural research.
Marketing. Farm input suppliers Tractor hire service

By the end of the lesson, the learner should be able to:
Describe A.I. services provided to farmers.
Identify objectives of Agricultural research.
Give examples of Agricultural research centers in Kenya.

Detailed discussion
& exposition of new concepts.

student book
resource person

KLB BK IV
Pg 130-2

Longhorn Bk 4
Pg 115-6

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Risks and uncertainties in farming.
Adjusting to uncertainties and risks.

By the end of the lesson, the learner should be able to:
Define the terms risk and uncertainty.
List types of risk and uncertainties.

Brain storming;
Detailed discussion.

KLB BK IV
Pg 134-5

Longhorn Bk 4
Pg 116-7

AGRICULTURE ECONOMIC IV (FARM ACCOUNTS)

Financial documents.
Books of accounts.

By the end of the lesson, the learner should be able to:



Outline details contained in an invoice, receipt, delivery note and a purchase order.

Oral questions & brief discussion.

Invoice, receipt, delivery note and a purchase order.

KLB BK IV
Pg 139-145

Longhorn Bk 4
121

AGRICULTURE ECONOMIC IV (FARM ACCOUNTS)

Cash book.
Journal & Subsidiary books of the Journal.

By the end of the lesson, the learner should be able to:
Describe features of the cash book.
Balance cash book.

Oral questions & brief discussion.
Illustrative examples.

Cash book.

KLB BK IV
Pg 150
Longhorn Bk 4
Pg 125

AGRICULTURE ECONOMIC IV (FARM ACCOUNTS)

Financial statements. Balance sheet.

By the end of the lesson, the learner should be able to:
Describe features of balance sheets.
Prepare a balance sheet.

Make entries in a balance sheet.
Prepare a balance sheet.
Supervised practice.

Balance sheet.

KLB BK IV
Pg 154-7
Longhorn Bk 4
Pg 129-130

AGRICULTURE ECONOMIC IV (FARM ACCOUNTS)

Solvency of a business.

By the end of the lesson, the learner should be able to:
Determine whether a business is solvent or insolvent.

KLB BK IV
Pg 154-7
Longhorn Bk 4
Pg 130

AGRICULTURE ECONOMIC IV (FARM ACCOUNTS)
AGRICULTURAL MARKETING & ORGANIZATIONS

Profit and loss account.
Market and marketing.

By the end of the lesson, the learner should be able to:
Define a profit and loss account.
Draw a profit and loss A/C.
Compute net profit.

Teacher gives format of profit and loss A/C.
Worked examples.
Supervised practice.

chart 
student book

KLB BK IV
Pg 157-9
Longhorn Bk 4
Pg 132-3

AGRICULTURAL MARKETING & ORGANIZATIONS

Types of markets. Monopoly. Oligopoly & Monopsony.
Price theory and demand.

By the end of the lesson, the learner should be able to:
Identify features of a monopolistic competition in a market, oligopolistic and monopsonistic markets.

Brain storming;
Exposition;
Discussion.

student book

KLB BK IV
Pg 165-6

Longhorn Bk 4
Pg 137-8

AGRICULTURAL MARKETING & ORGANIZATIONS

Factors affecting demand for a commodity.
Elasticity of demand.

By the end of the lesson, the learner should be able to:
Outline factors affecting demand for a commodity.

Q/A, discussion & explanations.

chart

KLB BK IV
Pg 168-9
Longhorn Bk 4
Pg 140-2

AGRICULTURAL MARKETING & ORGANIZATIONS

Factors affecting elasticity of demand.
Supply & Supply-price relationship.

By the end of the lesson, the learner should be able to:
State factors affecting elasticity of demand.

Exposition;
Explanations.

chart

KLB BK IV
Pg 173-4

AGRICULTURAL MARKETING & ORGANIZATIONS

Factors affecting supply of a commodity.

By the end of the lesson, the learner should be able to:
State & explain factors affecting supply of a commodity.

Q/A & detailed discussion.

KLB BK IV
Pg 175-7
Longhorn Bk 4
Pg 145-6