1. AGED 570: Teaching H.S. Agricultural Economics
Day 9: Teaching Farm and Agribusiness Concepts Part 4

2. Todays agenda Terms Share Pair Muddiest Concept
Activity 1: Motivating the Supply Chain
Activity 2: Different Utilities
Terms for Tomorrow

3. Terms Share Pair Marketing Supply Chain Sole Proprietor
4 P’s of Marketing, Production
Time Utility
Partnership
Place Utility
Corporation
Assembly
Form Utility
Limited Liability Company
Processing
Possession Utility
Wholesaling
Marketing Margin
Retailing
Commodity Markets
Consumption
Contracting

4. Muddiest Point and Terms Discussion

5. Activity 1: Motivating the Supply Chain
Objective: To understand the supply chain and delineate the different components of it
The class will be broken up into two groups where group 1 will be known as producers and group 2 will be known as consumers
The producers are required to “mine” items to “sell” to the consumers
The items to be sold have different amounts of stars, circles, and triangles

6. Activity 1: Motivating the Supply Chain
The producers will have to produce one of the items by grabbing one of the pieces of paper on the table
Note: only one item can be produced at a time
The producer will then have to go over to the consumers and find one that is willing to take their goods
The consumer is given a card of the items that they would like to purchase
To keep things simple, you can assume that you have plenty of money to buy any item you demand and that all payments are made electronically

7. Activity 1: Motivating the Supply Chain
You will be timed regarding how fast you can move all the products from the producer to the consumer
Thought questions
What were the tasks that were required to get the produced items to the consumers?
Put the tasks into a logical order that shows how the goods went from the production stage to the consumption stage
Are there any ways you can think of to create efficiency in getting the goods to the consumer?

8. Activity 1: Motivating the Supply Chain
In this next round you will swap roles and the consumer cards will be randomized
The group that is now the producers will decide on designating one person to take on one set of tasks previously identified
The rest of the rules from before are followed
You will again be timed to see how fast you can move the produced goods to the consumer

9. Activity 1: Motivating the Supply Chain
Thought questions
Are there any tasks you would add to the supply that was previously developed?
Are there any ways you can divide the tasks to make production and delivery of the goods more efficient?
In this next round you will swap roles and the consumer cards will be reshuffled
The group that is now the producers will decide on designating two people to take on a set of tasks previously identified

10. Activity 1: Motivating the Supply Chain
The rest of the rules from before are followed
You will again be timed to see how fast you can move the produced goods to the consumer
Thought questions
Are there any tasks you would add to the supply that was previously developed?
Are there any ways you can divide the tasks to make production and delivery of the goods more efficient?

11. Activity 1: Motivating the Supply Chain
In this next round you will swap roles and the consumer cards will be reshuffled
The group that is now the producers will decide on designating three people to take on a set of tasks previously identified
The rest of the rules from before are followed
You will again be timed to see how fast you can move the produced goods to the consumer

12. Activity 1: Motivating the Supply Chain
Final thought questions
What do you think is the purpose of the supply chain?
What are the key components of the supply chain?
From this activity, what do we learn about the supply chain?

13. Activity 2: Different Utilities
Objective: To be able to categorize different types of utilities
Given the following definition, please take three minutes come up with an example working with a partner
Time Utility comes from getting the product to the consumer when they want to consume it
Place Utility comes from getting the product to the consumer where they want to consume it

14. Activity 2: Different Utilities
Given the following definition, please take three minutes come up with an example working with a partner
Form Utility comes from getting the product to the consumer in the form they want to consume it
Possession Utility can be defined as the value that you get from ownership or being able to access an item

15. Terms to know for Next Class
Capitalism
Aggregate Demand
Monetary Policy
Socialism
Budget Surplus
Business Cycle
Communism
Budget Deficit
Inflation
Gross National Product
Deflation
Gross Domestic Product
Stagflation
Fiscal Policy
Aggregate Supply