slides for activity 1. price, cost and value price: amount of money paid for a good or service...
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Slides for Activity 2TRANSCRIPT
Slides for Activity 1
Price, Cost and Value
Price: amount of money paid for a good or service
Costs: impacts on workers, the environment, and the community
Value: the overall worth or benefit
Slides for Activity 2
Type of Card
Price: directly contribute to the price the consumer pays
Subsidy: supported by public funds
Indirect cost: have an indirect negative impact on the environment and/or society
Benefit: directly or indirectly benefit or add value to the environment and/or society
Prompt
Pay one of your Private Money tokens onto Total Cost card
Take a token from Public Wealth and add to Total Cost card
Take a token from Public Wealth and add to Total Cost card
Pay one of your Private Money tokens to the Public Wealth cup
Examples from GamePrice: • Consumers of Meal B paid more from their Private Money because the meal involved more direct costs.
• The Price of Meal A was lower because of government subsidies and indirect costs were not reflected in the price.
Costs: • Negative health impacts are more likely to arise from Meal A; the impacts are indirect costs because the public must pay for health care programs. Subsidy: • Corn is subsidized through payments to farmers, therefore lowers the price of items made with corn.
Slides for Activity 3
Key points from reading
Introduction to the Farm Bill:• Key federal legislation that affects how food is grown and the economics of price and cost.
• Legislation is revised every 4-6 years. The latest was passed in May, 2008.
• The 2008-2013 budget is $300 billion. Nutrition programs are the largest share of the budget.
Key points from reading
Programs affecting farmers:• Conservation programs support restoration of native ecosystems to help reduce floods, improve water quality, reduce soil erosion and provide recreation.
• Disaster relief programs provide compensation for crop or livestock losses caused by natural disasters.
• Commodities (crop) subsidies support prices, supplement farmers’ incomes and manage supplies for staple crops.