Determine the inputs needed to grow a crop.
Determination should include
- cost of seed
- fertilizer
- weed and disease control
- fuel costs
- land costs (e.g., rent, mortgage)
- labor costs
- equipment costs
- marketing costs
- insurance costs
- depreciation
- evaluation of breakeven cost.
Determination should also include subsidies and incentives offered through the state and federal government.
Process/Skill Questions:
- What is the most expensive input in crop production?
- Why are budgets important when planning to produce a crop?
- What government programs are available to offset costs for producers?