Farm Economics & Business
📋 What it is
A farm is a business — balancing the costs of growing food against the price it sells for.
🗣️ Coach says
Farming isn’t just growing — it’s running a BUSINESS. Farmers weigh COSTS (seeds, water, fuel, equipment, labour) against the PRICE their crops or animals sell for, in markets they can’t control. Weather, global prices and demand all swing their income. Smart planning and budgeting keep a farm running.
🧠 Memory hook
A farm is a business: balance COSTS (seeds/water/fuel/labour) vs the market PRICE. Prices swing; plan carefully.
😂 Giggle
The tractor wanted to retire, but the farmer said it still had a lot of ground to cover.
😲 Whoa!
A farmer might wait a whole year for a single payday at harvest — betting months of work and costs on weather and market prices they can’t control.
✅ Quick check: Why is farming financially risky as a business?
Say your answer out loud first — then reveal.
Farmers spend on costs all season but earn mostly at harvest, at market prices and weather they can’t control.
Uncertain prices and weather make farm income volatile.
🧪 Try it! (2 minutes)
Add up imaginary costs of growing a crop (seed, water, fuel) vs its sale price — farming as a business.