Capital as a Factor of Production | Types of Capital | Reward of Capital | Characteristics and Importance of Capital JSS 1 (Basic 7) – Agriculture

AGRICULTURE

PREVOCATIONAL STUDIES 

THIRD TERM

WEEK 4

JUNIOR SECONDARY SCHOOL (JSS 1)

THEME: CONCEPT AND MEDIUM OF AGRICULTURAL PRODUCTION 

PREVIOUS LESSON – Labour as a Factor of Agricultural Production | Meaning/Definition of Labour | Types of Labour | Reward of Labour | Importance of Labour JSS 1 (Basic 7) – Agriculture

TOPIC – LABOUR AS A FACTOR OF PRODUCTION 

LEARNING AREA

1. Introductory Activities

2. Definition of Capital

3. Types of Capital

4. Characteristics of Capital

5. Importance of Capital

6. Reward of Capital

7. Revision and Weekly Assessment (Test)

PERFORMANCE OBJECTIVES 

By the end of the lesson, most of the students should have attained the following objectives (cognitive, affective and psychomotor) and should be able to –

1. define capital.

2. types of capital.

3. state the characteristics/importance of capital.

4. mention the reward for capital.

 

ENTRY BEHAVIOUR

The students can state the importance of money.

INSTRUCTIONAL MATERIALS

The teacher will teach the lesson with the aid of flow chart of production processes.

METHOD OF TEACHING

Choose a suitable and appropriate methods for the lessons.

Note – Irrespective of choosing methods of teaching, always introduce an activities that will arouse pupil’s interest or lead them to the lessons. 

REFERENCE MATERIALS

1. Scheme of Work

2. 9 – Years Basic Education Curriculum

3. Course Book

4. All Relevant Material

5. Online Information

CONTENT OF THE LESSON  

LESSON 1 – INTRODUCTION

Factors of agricultural production is the different resources put together to produce and make different goods and services available for human consumption.

These resources are –

1. Land

2. Labour

3. Capital

4. Farm manager

 

MEANING/DEFINITION OF CAPITAL

Capital is the resource (money, wealth, machines or equipment) used for the production of more resources.

Capital is very important for setting up a farm business.

The reward for capital is interest.

CHARACTERISTICS OF CAPITAL 

1. It is man made factor of production.

2. Its reward is interest.

3. It made production of goods and services possible.

4. It requires hardworking and savings to organize.

5. Source of capital is saving, gift from family and friends, loans, etc.

 

LESSON 2 – TYPES OF CAPITAL 

The two (2) major types of capital include:

1. Fixed Capital

Fixed capital includes physical assets of the agricultural business such as land and building, furniture and fittings, equipments and tools, machineries, etc.

Fixed capital is used on daily basis and using depreciated in value with time.

 

2. Current Capital 

Current capital is also known as working capital. It is the different between assets and liabilities of the agricultural business.

IMPORTANCE OF CAPITAL

1. It aids production.

2. It attracts business investors.

3. It is used for buying raw materials.

4. It settles wages and salaries of labour.

5. It promotes goods and services.

6. It produces more capital.

LESSON 3 – REVISION AND WEEKLY ASSESSMENT (TEST)

REVISION AND WEEKLY ASSESSMENT (TEST)

Write a short essay on the importance of land.

ASSIGNMENT

1. Definition of farm manager.

2. State the functions of farm manager.

3. Reward of farm manager.

4. State the problems of farm manager.

Download – Agriculture Scheme of Work Junior Secondary School (JSS 1) Link

PRESENTATION

To deliver the lesson, the teacher adopts the following steps:

1. To introduce the lesson, the teacher revises the previous lesson. Based on this, he/she asks the students some questions; then, the teacher –

2. Leads students to discuss the meaning and characteristics of capital.

Pupil’s Activities – Follow the teacher’s lead, define and state the characteristics of capital.

3. Asks students to state the importance of capital.

4. Summarizes the lesson on the board.

Student’s Activities – Copy as the teacher writes.

CONCLUSION

To conclude the lesson for the week, the teacher revises the entire lesson and links it to the following week’s lesson.

LESSON EVALUATION 

Ask students to:

1. Define of capital.

2. State and discuss types of capital.

3. State 5 characteristics of capital.

4. Mention the reward for capital.

5. List 4 importance of capital.

 

NEXT LESSON

Farm Manager as a Factor of Agricultural Production | Meaning/Definition of Farm Manager | Functions of Farm Manager | Problems of Farm Manager JSS 1 (Basic 7) – Agriculture