AGRICULTURE




Agriculture to a laneman simply means food production, but the term agriculture literally implies field cultivation and production of livestock.
      


Agriculture can be defined as the science and act of cultivating the soil,be production, management of crops and livestock, preparation and processing of their products and by-products for man's use and other purposes.
      


Agriculture is simply the act and science that deals with production of crops and rearing of animals for man's use, it can also be seen as tilling of the soil to produce.
      

Types of agriculture.



There are two major types of agriculture namely:


1. Subsistence agriculture
This is a system of farming whereby a farmer cultivates crops and rear animals in order to provide food for himself and his family. 
     

In crop production, a subsistence farmer concentrates on arable food crops such as yam, cassava, maize, millet, groundnut and so on. A subsistence farmer can also establish plantation where he may plant crops such as oil palm, cocoa, rubber, banana, citrus tree and so on.
    



In livestock production, subsistence farmers rear goats, sheep, rabbits, dogs, pigs, fowls and so on for their personal consumption and for small unit sales.
  
Characteristics of subsistence agriculture.


1. Labour is provided by the farmer and his family members.


2. Crude implements such as cutlass, hoe, digger, basket are useful by subsistence farmers.


3. The farmer cultivates on small areas of land.


4. The farm produce is mainly for the family with little for sale.


5. The subsistence farmer practises mixed cropping.

Problems of subsistence agriculture.


a. Subsistence farmers use crude implement. These tools leads to low productivity.


b. Most subsistence farmers find it difficult to adopt new farming techniques because they are illiterate. They have no formal education.

c. They use family labour which is not reliable.

d. The output of subsistence farming is usually very low.


e. Most subsistence farmers are poor.

     Commercial or mechanised agriculture.


This is a system of agriculture whereby farmers or companies produce crops and agricultural materials on a large scale through the use of machines for the purpose of selling.

Characteristics of commercial agriculture.


1. Large area of farm land is required.


2. It is very expensive to practise.


3. It requires the use of mechanised  machines like tractors, cultivator, plough, planter etc.


4. Labour is mechanical and not manual.


5. It involves a lot of research into various aspects of production.

Problems or disadvantages of commercial farming.


a. Commercial farming may lead to unemployment because most of the farming operations are mechanised.


b. It can lead to pollution. The use of machines to perform most of the farm operations can lead to environmental pollution as a result of noise and smoke emitting from the engines.


c. It is very expensive to operates. The machines are imported and are very expensive to purchase.

Farming system


1. Mixed cropping: This is the system of farming where a farmer cultivates more than one crops on a piece of land. For example, maize and yam, maize and cassava, etc.


2. Mixed farming: This is the system of farming where a farmer cultivates crops and rear farm animals on the same piece of land.


3. Forestry: This is the system of establishing forest and managing its resources such as timber, wild animals


4. Fish ponds raising: This is the system of farming where farmer raises different species of fishes in a pond.




Hope you understand the teaching? Drop your questions in the comments section

MONEY


Money is anything that is generally accepted as a medium of exchange and in the settlement of debts.




In other words, money can also be defined as anything that is generally acceptable as a means of payment.

         

          Trade by barter.


Trade by barter may be defined as a form of trading in which goods are exchange directly for other goods without the use of money as a medium of exchange.


Disadvantages of trade by barter.
1. Waste of time.
2. Problems of indivisibility.
3. No room for deferred payment
4. It discourages borrowing and lending.
5. It discourages large scale production.

Characteristics of money.


1. General acceptability
2. Durability
3. Recognisable.
4. Stability
5. Homogeneity
6. Portability



1. General acceptability: Money must be generally acceptable by all in the society or country.
2. Durability: the object that will serve as money must be able to last long. It must not be a perishable commodity.
3. Recognisability: money must be easily recognised and identified by the totality of the people in the society.
4. Portability: money can be carried about

5. Portability: it must be easy to carry around.

6. It must be Homogeneity



Money performs the following functions


1. Medium of exchange
2. Unit of account
3. Store of value
4. As a measure of value.

Differences between money and other commodities used for exchange.


1. Money  is generally acceptable while other commodities are not.
2. Money is durable while other commodities are not.
3. Money is used as a medium of exchange, other commodities are not.

Forms or types of money


1. Coins
2. Commodity money
3. Bank notes
4. Legal tender
5. Deposit money
6. Partial money.

DIVISION OF LABOUR


Division of labour can be defined as the breaking down of a production process into a number of seperate operations, whereby each operation is undertaken or performed by one person or a group of persons.
        Division of labour, for example, exist in the publishing industry where each worker or group of workers or individuals are involved in writing of manuscript, typing of manuscript, editing, printing, coating, sewing, binding and finally trimming.it is the joint effort of all this group of workers that enables a complete book to be prodeced.
     
         SPECIALISATION

Specialisation is defined as the concentration of the productive effects of an individual, a firm or a country in a given aspect of economic activity.

       TYPES OF SPECIALISATION.
1. Specialisation by product: This is the type of specialisation in which a producer (individual or a firm or government) concentrates on a production of a particular commodity. (Malt drink, production of poultry eggs).
2. Specialisation by sex: This is the type of specialisation in which certain occupations are exclusively either for males or females.
3. Specialisation by process: This is the type of specialisation in which a production process is divided into different operations or stages.

ADVANTAGES OF DIVISION OF LABOUR.

1. Creation of employment.
2. Development if great skills.
3. Development of technology.
4. Time saving
5. Lower unit cost
6. It leads to specialisation .
7. Increase in production.
     DISADVANTAGES OF DIVISION OF LABOUR
1. Monotony
2. Reduction in employment.

LIMITATIONS OF DIVISION OF LABOUR.

1. The size of the market
2. Level of technology
3. Government policy
4. Availability of capital.

LARGE FIRM AND SMALL FIRM.
A firm may be defined as the independently administered business unit which is capable of carrying out production, construction or distribution activities.

Characteristics
1 Small firms require small capital while large firms require large capital.
2. Small firms require small market while large firms require large market.
3. Small firms employ few workers while large firms employ large number of workers.