BASIC AGRICULTURAL SUPPLY. THE LAW OF SUPPLY
Subject:
Agricultural Science
Class:
SS 2
Term:
THIRD Term / 3RD Term
Week:
Week 6
Topic:
THE LAW OF SUPPLY
Previous Knowledge: The pupils have previous knowledge of
BASIC ECONOMIC AGRICULTURAL PRINCIPLES
that was taught in their previous lesson.
Behavioural Objectives : At the end of the lesson, learners will be able to
- Define the law of supply
- State the principle of supply
- Explain the effects of change in supply on other commodities
- Explain the law of diminishing return
Instructional Materials
- Wall charts
- Online Resource
- Textbooks
- Laptop
- Crop samples
- Pictures that are related to the subject matter
- Flash cards
- www.edudelighttutors.com
Methods of Teaching
- Role modelling
- Questions and Answers
- Explanation
- Discussion
- Recitation
- Imitation
- Story Telling
- Dramatization
WEEK SIX
SUPPLY
Supply may be defined as the quantity of goods which a producer is willing and ready to offer for sale at a given price over a given period of time. Quantity of goods offered for sale in the market is referred to as effective supply.
LAW OF SUPPLY
The law of supply states that the higher the price, the higher the quantity of produce that will be supplied or the lower the price, the lower the quantity of produce that will be offered for sale.\
SUPPLY SCHEDULE
Supply Schedule is the table which shows the relationship between price and quality of commodity supplied. See the table below.
| Price N | Quantity Supplied (kg) |
| 100 | 50 |
| 80 | 40 |
| 60 | 30 |
| 40 | 20 |
| 20 | 10 |
SUPPLY CURVE
Supply Curve is a graph showing the relationship between price and quantity of goods supplied or offered for sale. The supply schedule is used to draw the supply curve as shown below.
Supply Curve:
FACTORS AFFECTING SUPPLY
- Price of good
- Level of Technology
- Cost of production
- Government Policy
- Weather condition
- Taxation
- Price of other commodities
- Number of producers
- Natural disasters
LAW OF DIMINISHING RETURN
The law states that as successive amount of a variable factor are applied to one or more fixed factors, output might increase a lot at first, but there comes a point at which the use of an additional amount of the variable factor will add less to output than the proceeding amount.
In other words, it state that as more and more units of a variable factor of a production are added to fixed factor, after a certain point, the marginal product diminishes or declines.
Diminishing returns is caused by poor/inexperienced management resulting in the use of more than required amount of one or more factors of production thereby making them less effective.
IMPORTANCE OF LAW OF DIMINISHING RETURNS IN AGRICULTURE
- It enables managers effectively combine factors of production to attain optimal output.
- It minimizes wastage on unproductive input.
DEFINITION OF TERMS
- Fixed factors: these are assets or resources whose value does not change in the short run e.g Land
- Variable factor: these are assets or resources whose value changes in the short run e.g capital, labour
- Total product (TP or Q): is the overall quantity of output or yield produced by the farm.
- Average product (AP): is the overall quantity of output or yield produced by the farm per variable input.
- Marginal product (MP): is the change in quantity produced resulting from change in variable input.
This can be represented in the table below;
| Fixed factor | Variable factor | Total output (kg) | Marginal product (kg) | Average product (kg) |
| 10 | 1 | 10 | – | 10 |
| 10 | 2 | 25 | 15 | 12.5 |
| 10 | 3 | 46 | 21 | 15.3 |
| 10 | 4 | 60 | 14 | 15 |
| 10 | 5 | 73 | 13 | 14.6 |
| 10 | 6 | 83 | 10 | 13.8 |
| 10 | 7 | 83 | 0 | 11.9 |
| 10 | 8 | 80 | -3 | 10 |
Presentation :
The topic is presented step by step
Step 1: The class teacher revises the old topic
Step 2: The class teacher introduces the new topic
Step 3: The class teacher allows the pupils to give their own contributions and gives room for pupils” participation
Class Teacher and Pupils Activities. Interaction or Participation
This involves class teacher and pupils’ interaction, conversation, imitation or modeling through discussion, play method or just by recitation or asking and answering questions that are related to the topic that has just been taught.
EVALUATION
- What is demand?
- What is supply?
- State the law of supply.
- State the law of diminishing returns
- List five factors affecting demand
Conclusion :
The class teacher concludes the lesson by giving the pupils some notes on the topic that has just been taught. He goes round to mark and he does the necessary corrections.
