AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Household firm relationship.

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

KLB BK IV
Pg 96-97

Longhorn Bk 4
Pg 20-21

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

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 the terms GDP & GNP.
Define the term gross national income (GNI).


Define the term per capita income.

Exposition & explanations.



Calculations.

calculator

KLB BK IV
Pg 97-98

Longhorn Bk 4
Pg 87-88

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.
Describe the economic value of production of crops and livestock and space for construction of farm buildings, agro-industries & infrastructure.
List down methods of land acquisition.

Brain storming;
Discussion.
Exposition of new concepts;
Probing questions to elicit responses;
Brief 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.

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)

Capital.

By the end of the lesson, the learner should be able to:
Define the term capital.
Identify types of capital.
List sources of capital.

Oral questions, exposition & discussion.

KLB BK IV
Pg 102-3
Longhorn Bk 4
Pg 94-95

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Management as a production factor.

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.

By the end of the lesson, the learner should be able to:
Define production function.
State characteristics of variable and fixed inputs.

Q/A: examples of inputs & outputs; variable and fixed inputs;
Brief discussion.

KLB BK IV
Pg 104-6
Longhorn Bk 4
Pg 96-7

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.
Illustrate and interpret Increasing returns production functions.
Give empirical examples where increasing returns production functions are experienced.

Worked examples: supervised practice.
Tabulate inputs and outputs.
Graphical representation of increasing returns production functions.

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.

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)

Law of diminishing returns.

By the end of the lesson, the learner should be able to:
State the law oh diminishing returns.

Refer to illustrative tables.
Plot graphs from the tables;
Discuss shape of the curve.

graphs

KLB BK IV
Pg 112

Longhorn Bk 4
Pg 100-1

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Zones of a PF curve.

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)

The principles of substitution. Input-input relationship.
Product-product relationship. Supplementary and complementary products.

By the end of the lesson, the learner should be able to:
State the principles of substitution.
Give examples illustrating principles of substitution.
Identify ways of combining inputs.
Give examples of product-product relationship.
Give illustrative examples depicting supplementary and complementary products.

Exposition.
Illustrative examples, brief discussion.
Oral questions: joint products, competitive products.
Discussion.

charts

KLB BK IV
Pg 115-6

Longhorn Bk 4
Pg 102

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

The principle of equi-marginal returns. The concept of cost.

By the end of the lesson, the learner should be able to:
State the principle of equi-marginal returns.

Determine the cost of production.
Identify the role of cost in production.
List types of costs.

Discussion.


Exposition;
Worked examples.

KLB BK IV
Pg 117-9

Longhorn Bk 4
Pg 104-5,6

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Types of revenue.

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.

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

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Farm planning.

By the end of the lesson, the learner should be able to:
State factors to consider when drawing a farm plan.

Exposition, Q/A & discussion.

charts

KLB BK IV
Pg 121-2
Longhorn Bk 4
Pg 108

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Making a farm plan.

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

Exposition, probing questions & discussion.

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

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Farm budgeting.
Types of farm budgets.

By the end of the lesson, the learner should be able to:
Define a farm budget.
Analyse importance of farm budgeting.
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.
Exposition & discussion,
Worked examples;
Supervised practice;
Written exercises.

chart

KLB BK IV
Pg 123
Longhorn Bk 4
Pg 110

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Farmer?s support services Extension, training & banking.

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

Exposition & explanations.

KLB BK IV
Pg 127-8

Longhorn Bk 4
Pg 112-3

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Credit. Sources of credit.

By the end of the lesson, the learner should be able to:
Define the term credit.
Identify types of credit.
Differentiate between hard & soft credit.
List down sources of credit.
Identify problems associated with credits.

Detailed discussion
& exposition of new concepts.

student book

KLB BK IV
Pg 128-130



Longhorn Bk 4
Pg 113-5

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Artificial insemination & Agricultural research.

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

KLB BK IV
Pg 130-2

Longhorn Bk 4
Pg 115-6

AGRIC. ECONOMICS III (PRODUCTION ECONOMICS)

Marketing. Farm input suppliers Tractor hire service

By the end of the lesson, the learner should be able to:
Cite examples of organizations that help farmers in marketing their produce.
Cite organizations where farmers can obtain farm inputs.
State merits & demerits of tractor hire service.
Cite points of tractor hire service.

Writing initials in full e.g. KPCU.

Brief discussion

resource person

KLB BK IV
Pg 132-4


Longhorn Bk 4
Pg 112-3

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.
Outline ways of adjusting to risks 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.

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)

Books of accounts.

By the end of the lesson, the learner should be able to:
Describe features of the ledger and the inventory.

Oral questions & brief discussion.
Illustrative tables.

KLB BK IV
Pg 146-150
Longhorn Bk 4
Pg 124

AGRICULTURE ECONOMIC IV (FARM ACCOUNTS)

Cash book.

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)

Journal & Subsidiary books of the Journal.

By the end of the lesson, the learner should be able to:
Describe features of the journal & subsidiary books of the journal.

Oral questions & brief discussion.
Illustrative tables.

KLB BK IV
Pg 151-3

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)

Profit and loss account.

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 

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

AGRICULTURAL MARKETING & ORGANIZATIONS

Market and marketing.

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




Define the term market as an institution.
Distinguish between a perfect and imperfect market.

Q/A: definition.
Teacher?s explanations.

student book

KLB BK IV
Pg 164

Longhorn Bk 4
Pg 137

AGRICULTURAL MARKETING & ORGANIZATIONS

Types of markets. Monopoly. Oligopoly & Monopsony.

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.

KLB BK IV
Pg 165-6

Longhorn Bk 4
Pg 137-8

AGRICULTURAL MARKETING & ORGANIZATIONS

Price theory and demand.
Factors affecting demand for a commodity.

By the end of the lesson, the learner should be able to:
Define the terms price & demand.
Sketch the demand curve.
Explain the term demand schedule.
Outline factors affecting demand for a commodity.

Exposition;
Curve sketching & explanations.
Q/A, discussion & explanations.

student book

KLB BK IV
Pg 166-8
Longhorn Bk 4
Pg 139-140

AGRICULTURAL MARKETING & ORGANIZATIONS

Elasticity of demand.

By the end of the lesson, the learner should be able to:
Explain the concept of elasticity of demand.
Illustrate demand for a commodity.
Calculate elasticity of demand.
Identify types of elasticity of demand.
Illustrate elastic, inelastic & unitary demand graphically.

Teacher?s explanations.
Graphical illustration.

Worked examples. Supervised practice.



Graphical representation of demand.

chart

KLB BK IV
Pg 170-3


Longhorn Bk 4
Pg 142-4

AGRICULTURAL MARKETING & ORGANIZATIONS

Factors affecting elasticity of demand.

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

Exposition;
Explanations.

KLB BK IV
Pg 173-4

AGRICULTURAL MARKETING & ORGANIZATIONS

Supply & Supply-price relationship.

By the end of the lesson, the learner should be able to:
Define the term supply.
Illustrate supply-price relationship.

Sketching supply-price curves.
Refer to supply schedules.
Discussion.

chart

KLB BK IV
Pg 174-5
Longhorn Bk 4
Pg 144-5

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

AGRICULTURAL MARKETING & ORGANIZATIONS

Elasticity of supply (Es).
Determination of market prices.

By the end of the lesson, the learner should be able to:
Define elasticity of supply (Es).
Calculate (Es)
Explain how market prices are determined.
Determine the equilibrium or market prices of a commodity in a free market.

Q/A: review Ed hence defines Es.
Worked examples.
Supervised activity.
Teacher?s explanation.
Q/A : review demand and supply curves.
Plot both curves.
Interpret the graphs.

chart
graph

KLB BK IV
Pg 177-8
Longhorn Bk 4
Pg 147

AGRICULTURAL MARKETING & ORGANIZATIONS

Price control. Marketing and marketing function.

By the end of the lesson, the learner should be able to:
Explain the role of government in price control.

Define marketing and marketing function.describe tingfunction. a market.

Brain storming;
Exposition;
Discussion.

student book

KLB BK IV
Pg 179-183

Longhorn Bk 4
Pg 151

AGRICULTURAL MARKETING & ORGANIZATIONS

Marketing organizations and agencies. Wholesalers & retailers.

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



Explain the arbitrage role of a wholesaler.
Identify services provided by retailers.

Brain storming;
Exposition;
Discussion.

KLB BK IV
Pg 183-4

Longhorn Bk 4
Pg 151

AGRICULTURAL MARKETING & ORGANIZATIONS

Itinerant traders, broker agents & commission agents.

By the end of the lesson, the learner should be able to:
Outline the functions of Itinerant traders, broker agents & commission agents in a market.

Exposition & explanation.

student book

KLB BK IV
Pg 184-5

AGRICULTURAL MARKETING & ORGANIZATIONS

Packers and processors, marketing boards & auctioneers.

By the end of the lesson, the learner should be able to:
Outline functions of packers and processors, marketing boards & auctioneers in a market.

Q/A & detailed discussion.

KLB BK IV
Pg 185-6

AGRICULTURAL MARKETING & ORGANIZATIONS

Special characteristics of Agricultural products.
Agricultural organizations. Kenya sugar authority, Horticultural crops Development Authority, AFC, ADC, and KMC.

By the end of the lesson, the learner should be able to:
Describe bulkiness, weight, volume, seasonality and perishability of Agricultural products.
Outline the functions of Kenya sugar authority, Horticultural crops Development Authority, AFC, ADC, and KMC.

Oral questions & detailed discussion
Probing questions,
Brief discussion

student book

KLB BK IV
Pg 186-8

AGRICULTURAL MARKETING & ORGANIZATIONS

Other Farmers? Associations: KNFU, ASK, 4K-club, YF club.

By the end of the lesson, the learner should be able to:
Outline the functions of other Farmers? Associations such as KNFU, ASK, 4K-club, YF club.

Probing questions,
Brief discussion
Assignment.

student book

KLB BK IV
Pg 195-7

AGRICULTURAL MARKETING & ORGANIZATIONS

Co-operative societies.

By the end of the lesson, the learner should be able to:
Outline the principles of co-operatives.
Highlight functions of co-operatives.

Probing questions, brief discussion, & teacher?s explanations.

student book

KLB BK IV
Pg 161-2