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.