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Understanding Animal Production

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Understanding Animal Production Understanding Supply and Demand Concepts Reminder: student learning activities are at the end of this power point. – PowerPoint PPT presentation

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Title: Understanding Animal Production


1
  • Understanding Animal Production
  • Understanding Supply and Demand Concepts

Reminder student learning activities are at the
end of this power point.
2
TeacherInterest Approach
  • Hold up a bag of candy. Ask the students what
    they would do to get this candy. Would they pay
    for it? Stay after school and do extra work for
    it? How much is it worth to them Briefly discuss
    the concept of demand. Now give each student a
    piece of candy

3
Teacher - Cont
  • Then hold up a whole bag of candy. Once again,
    ask the students what they would do for the bag
    of candy. Are as many people still willing to
    give or do something extra for the bag of candy?
    Why or why not? Briefly discuss the concept of
    supply with the students.

4
Common Core/Next Generation Standards Addressed!
  • WHST.6-8.1- Write arguments to support claims
    with clear reasons and relevant evidence.
    (MS-LS2-4)
  • SL.8.5 - Integrate multimedia and visual displays
    into presentations to clarify information,
    strengthen claims and evidence, and add interest.
    (MS-LS1-7),(MS-LS2-3) WHST.6-8.1 Write arguments
    focused on discipline content. (MS-LS1-4)
  • WHST.6-8.8 - Gather relevant information from
    multiple print and digital sources assess the
    credibility of each source and quote or
    paraphrase the data and conclusions of others
    while avoiding plagiarism and providing basic
    bibliographic information for sources. (MS-LS4-5)

5
Career Cluster Standards Agriculture, Food and
Natural Resources.
  • Pathway Content Standard The student will
    demonstrate competence in the application of
    principles and techniques for the development and
    management of agribusiness systems.
  • ABS.01. Performance Element Utilize economic
    principles to establish and manage an AFNR
    enterprise.
  • ABS.01.01. Performance Indicator Apply
    principles of capitalism in the business
    environment.
  • ABS.01.01.01.a. Recognize principles of
    capitalism as related to AFNR businesses

6
Bell Work
7
Terms
  • Commodity
  • Demand
  • Elastic
  • Elasticity of demand
  • Elasticity of supply
  • Fixed cost
  • Law of demand
  • Law of supply
  • Supply
  • Total Costs
  • Variable Costs

8
What is Supply?
  • Supply is the amount of goods or services offered
    for sale at a given time
  • Law of supply- states that a producer will supply
    fewer goods or services as prices decrease and
    will supply more goods or services as prices
    increase

9
  • Elasticity of supply-variability of supply based
    on cost of production
  • Agricultural commodities such as livestock and
    crops have less elasticity than other commodities
  • Commodity is any good or product that is sold

10
  • Lack of elasticity is due to high cost involved
    in producing agricultural commodities
  • i.e. cost of raising cattle
  • Costs may include land, feed, medicines, milking
    machinery, milk storage tanks, etc.

11
  • Cost can be broken down into three types
  • Fixed costs-operating costs that are not directly
    related to production usually pre-determined and
    usually cannot be changed
  • Ex. taxes and insurance
  • Variable costs-directly related to production,
    these will change over time
  • Ex. labor, raw materials
  • Total costs- sum of fixed and variable costs

12
Types of Cost Fixed Costs Variable Costs
Insurance X
Taxes X
Interest on Investments X
Land or Large Machinery X
Labor X
Feed X
Medicines X
Fuel X
Seed, Fertilizer X
13
What is demand?
  • Demand is the desire for a commodity or
    willingness to buy a commodity.
  • Based on assumption that prices may differ but
    everything else will remain constant, however,
    not always true.
  • Peoples preference may change, substitutes may
    become available, or number of people in
    marketplace may fluctuate.

14
  • Law of demand states that people will buy more of
    a product at lower prices and less at higher
    prices
  • Ex. Corn dogs vs. pork chops at a fair. The pork
    chop may be have a more desirable taste but cost
    more. Therefore, more corn dogs will be sold due
    to the price

15
  • Elasticity of demand is the variability of the
    amount of goods or services that will be
    purchased at various prices
  • Ex. Beef tends to be higher in price than pork
    and is often more desirable flavor. Consumers
    will buy the pork because it will still meet
    their dietary needs and cost less. This make
    beef elastic.
  • Elastic means that a product is sensitive to
    changes in price.

16
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17
What happens when there is a change in supply or
demand?
  • Changes in supply or demand refer to overall
    changes in the products and services provided and
    the demand for them
  • Change in supply may be a decrease in milk supply
    due to widespread mastitis infections.

18
  • Change in supply may also be caused by an
    increase in wheat production due to extremely
    fair weather conditions.
  • Both situations caused a change in supply but did
    not effect the change in demand.
  • Excess supply will result in lower prices.

19
  • Change in demand is anything that causes
    consumers to buy more or less of a product
    despite its price
  • Changes can result from availability and prices
    of comparable commodities and changes in public
    perception.
  • Public perception is a direct result of
    advertising

20
Review
  • What is Supply?
  • What is demand?
  • What happens when there is a change in supply or
    demand?

21
The End!
NEXT Student Learning Activities
22
Student Learning Activities
  • Sample tests are available in the Lesson Plan
    tab.

23
Name ____________________________
What's the price?
Read each statement in the cause Colum. Product
what will happen to the price and explain why.
Cause Effect
Today is the day before the 4th of July holiday and the fireworks stand is almost out of fireworks. What will happen to the price of fireworks? The price will _____________ because ______________________________________________________________________________________________________.
There are lots of holiday ornaments still on the store shelves the day after Christmas. What will happen to the price of the ornaments? The price will _____________ because ______________________________________________________________________________________________________.
An oil will explosion redoes the amount of oil available to make gasoline for cars and trucks. What will happen to the price of gas? The price will _____________ because ______________________________________________________________________________________________________.
A car dealer has to many cars of last years model still on his lot left to sell. The new models will be delivered next week, what will happen to the price of last years model cars? The price will _____________ because ______________________________________________________________________________________________________.
A bakery accidentally bakes to many cupcakes one morning. Instead of 50 cupcakes they now have 500. What will happen to the price of the cupcakes? The price will _____________ because ______________________________________________________________________________________________________.
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