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Learn about the concept of utility and the five sectors of agriculture, explore careers in agribusiness, and understand the importance of the free enterprise system at local, state, national, and international levels.
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Agriculture Today Unit 1: Agribusiness in Today’s Agriculture Industry Lesson: AT1
Objectives Lesson Objective: After completing the lesson on agriculture today, students will demonstrate their ability to apply the concept in real-world situations by obtaining a minimum score of 80% on an Agriculture Careers Tri-fold. Enabling Objectives: • Describe the concept of utility and identify the five sectors of agriculture and how they fit together within the industry. • Identify five careers available in agribusiness today. • Explain the free enterprise system while examining agribusiness at the local, state, national, and international level.
Key Terms • Utility • Free enterprise
How do we get from A to B? • How does the product get from the picture on the left to the picture on the right? • Who and/or what is involved in this process? • Why is it important for this process to take place? • How does this process affect our local economy? • How does this process affect our state economy? • How does this process affect the United States economy? • How does this process affect the international economy?
Concept of Utility • Creation of a product starts at the farm, or production, level • Satisfaction, or utility, grows as the product is changed to a form which meets the needs of the customer • Processing efforts are put into place to add value to the product and increase utility • Form Utility • Place Utility • Consumers want products in a specific form, and with convenient access • Stores where you can buy everything under one roof, food delivery services, etc. UTILITY • Time Utility • Consumers want products in a timely fashion • Cues are taken from consumers’ utility for a particular product to drive future production, processing, wholesaling, and retailing of that product.
Free Enterprise • Economic system • Regulates itself in a freely competitive market through supply and demand • Minimal government control and regulation
Conclusion • The agriculture industry is a vast free enterprise system encompassing producers, processors, wholesalers, retailers, and consumers working together to create commodities and products to meet local, state, national, and international demands.
Exit Card • What did you learn today about the agriculture industry today? • What questions do you still have about the agriculture industry?