Agricultural Economics
📋 What it is
A farm is a business, and food prices ride global markets of supply, demand and trade.
🗣️ Coach says
Farming is economics in action. Farmers weigh COSTS (seed, fuel, labour) against PRICES set by markets they can’t control — when everyone grows a lot, prices fall; when harvests fail, they rise. Global TRADE moves food across the world. Understanding markets helps farmers (and shoppers) make smart choices.
🧠 Memory hook
Farm = business. Prices ride supply + demand + global trade (glut → cheap · shortage → dear). Costs vs price.
😂 Giggle
The lettuce farmer was really ahead of the game — always a head above the rest!
😲 Whoa!
The food on an average plate has often travelled over 2,000 km from farm to fork — a journey powered by global agricultural trade.
✅ Quick check: Why do food prices rise when many harvests fail?
Say your answer out loud first — then reveal.
Less supply with the same demand pushes prices up; abundant harvests (more supply) push them down.
Prices follow supply and demand.
🧪 Try it! (2 minutes)
Notice how a fruit costs less in its harvest season (lots of supply) — supply and demand at work.