Summary

• Description:

  The PDF document comprises Form 1 Agriculture notes on the topic of Agricultural Economics I (Basic Concepts and Farm Records).

  The topics and sub-topics covered in the document include:

  • Introduction to Agricultural Economics
    • Agricultural economics is defined as a science that aims to maximize output while minimizing costs by combining limited resources like land, capital, labor, and management.
  • Basic Economic Principles
    • Scarcity: This principle explains that productive resources are limited in supply relative to the demand for them.
    • Choice/Preference: Because resources are scarce and human wants are many, choices must be made. This leads to creating a "scale of preference" to satisfy the most pressing needs first.
    • Opportunity Cost: This is defined as the revenue forgone from the best alternative choice. It only exists when there are alternatives to choose from.
  • Farm Records
    • Importance of Farm Records: The notes outline several reasons for keeping records, including:
      • Showing the history of the farm and helping in planning and budgeting.
      • Determining whether the farm is making a profit or a loss.
      • Showing all the assets and liabilities, which helps in valuing the farm.
      • Supporting insurance claims and aiding in correct tax assessment.
      • Helping to detect losses or theft on the farm.
    • Types of Farm Records: Various essential records are described:
      • Production Records: To show the total yield of each enterprise.
      • Inventory Records: A record of all permanent and consumable goods on the farm.
      • Field Operation Records: To detail all cultivation practices for each crop.
      • Breeding Records: To track breeding activities for selection and culling decisions.
      • Feeding Records: To keep track of the types and quantities of feeds used.
      • Health Records: To monitor the health conditions of the livestock.

  These notes are comprehensive, neat, and printable, making them an excellent resource for students being introduced to the basic economic principles and record-keeping practices in agriculture. They are also highly suitable for teachers to use for lesson preparation, providing a structured and clear foundation for the topic.

• File Size:

  161.31 KB
• Length:

  7 pages
• Category:

  Lesson Notes
• Level:

  Form 1
• Subject:

  AGRICULTURE
• Posted By:

  Caleb_Peter

Enter your details below to initiate a payment using MPESA.