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 Pay one of your Private Money tokens to the Public Wealth cup

Examples from Game Price: 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, The 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.