Farming Frenzy

Introduction

It's time to get your hands dirty! 

Have you ever wondered what it would be like to live the life of a farmer?  

Well now is your chance.  In this quest we will take a look into what being a farmer is like.  In this process we will discover what a producer and a consumer are apart of including: 

Capital Goods

Credit

 Currency

 Entrepreneurs

 Income

 Interest

 Investing

 Market Economy

 Natural Resources

Needs and Wants

 By the end of this quest, you will understand more about how Economics work, and why they are important in your society. 

 

Task

Your task is to build your own farm.  Using the websites on the process page, research the costs of growing certain goods on your farm, and the sale price. Determine what goods are most beneficial on your farm, and then on a poster board draw what your farm would look like. On the back of your poster board, create a key of what is on your farm, and explain why it is that you chose to have those particular goods and services.  

Process

Here's what you do...

First, make yourself familiar with farming with the following websites:

http://www.foodafactoflife.org.uk/section.aspx?siteId=14&sectionId=63

http://www.ers.usda.gov/amber-waves/2013-april/understanding-farm-incom…

Then see what it would be like to grow crops with these websites:

http://igrow.org/agronomy/wheat/a-look-at-2014-crop-costs/

http://corn.agronomy.wisc.edu/AA/A030.aspx

What about livestock, look to these websites:

http://www.farmandranchguide.com/news/livestock/what-s-a-cow-worth-dete…

http://www.cattlenetwork.com/news/industry/how-much-your-time-farm-worth

http://www.hobbyfarms.com/livestock-and-pets/choosing-livestock-14981.a…

http://boards.straightdope.com/sdmb/archive/index.php/t-347838.html

Finally, the cost of equipment is also important, so check out these sites:

http://www.extension.iastate.edu/agdm/crops/html/a3-29.html

http://farmindustrynews.com/farm-equipment/machinery-cost-estimates-201…

https://extension.umd.edu/newfarmer/program-topics/equipment

Choose at least 5 goods and services that will be included in your farm, and write down what they are and why you chose them.

Finally, begin working on your poster board of your farm. 

Evaluation
Project Component Criteria Point Value
Creativity Is the final project creative? Are there pictures, colors, or subtle accents that creatively blend the information contained in the project? 10/50 points
Information Is the information about your presented accurately and completely?

10/50 points

Spelling/Grammar Is the project free of spelling and grammar errors?

10/50 points

Class Participation Did the student effectively manage his/her time to complete the project on time?  Did the student remain on task throughout the allotted class time given to work on this project? 10/50 points
Project Reflection

Did the student respond thoroughly and thoughtfully throughout the explanation in the project key?

10/50 points 

Conclusion

You are officially a farmer!

Credits

Need some help building this..

Teacher Page

Capital Goods

Goods used to make other goods such as machinery

Command Economy

An economy where centralized groups decide what and how goods will be produced, distributed and consumed

Credit

The ability to borrow money

Currency

The type of money a country uses

Embargos

A law that cuts off trade with another country

Entrepreneur

One who risks his or her own money time, ideas and energy to start and run a business

Gross Domestic Product (GDP)

The total value of all the goods and services produced in a country in one year

Human Capital

Workers of a business or country including their education, training, skills and health

Income

Money coming in for a person or into a business

Interest

A fee for using money

Invest

Putting money into a bank account, stock, bond or mutual fund that pays interest

Market Economy

An economy in which changes in price guide what and how goods will be produced, distributed and consumed

Mixed Economy

An economy that blends characteristics of both command and market economies

Natural Resources

Resources that come from nature

Need

Something you can't live without

Quotas

A limit on the number of goods from one country to another country

Savings

Income not spent

Scarcity

Limited supply of something

Specialization

The production of just one or very few products

Spending

The ability to buy what you need or want

Standard of Living

The number of goods and services available to each person

Tariffs

Taxes on goods brought into a country

Trade

The exchange of goods and services

Trade Barriers

When countries limit trade to protect businesses from competition

Traditional Economy

An economy in which customs and habits of the past decide what and how goods are produced