{"id":474,"date":"2023-09-26T12:39:21","date_gmt":"2023-09-26T12:39:21","guid":{"rendered":"http:\/\/localhost\/ecole9ja\/?p=474"},"modified":"2023-09-26T12:46:05","modified_gmt":"2023-09-26T12:46:05","slug":"week-3-jss-1-third-term-agricultural-science-lesson-notes","status":"publish","type":"post","link":"https:\/\/ecolebooks.com\/nigeria\/posts\/week-3-jss-1-third-term-agricultural-science-lesson-notes\/","title":{"rendered":"Week 3 – Jss 1 Third Term Agricultural Science Lesson Notes"},"content":{"rendered":"

\u00a0WEEK 3
\n<\/strong>CAPITAL
\n<\/strong>Definition: <\/strong> Capital includes all man-made productive assets which are used in production. In other words, these are assets made by man to enable him to produce goods and services.
\nFeatures of Capital
\n<\/strong>(i)\u00a0\u00a0\u00a0\u00a0Capital is also a factor of production.
\n(ii)\u00a0\u00a0\u00a0\u00a0Examples of capital include, hoe, cutlass, tractor, farm building, cash in hand, plough, etc.
\n(iii)\u00a0\u00a0\u00a0\u00a0It can depreciate or appreciate.
\n(iv)\u00a0\u00a0\u00a0\u00a0Sources of capital include personal savings, banks, government agencies, cooperative societies, etc.
\n(v)\u00a0\u00a0\u00a0\u00a0The reward for capital is interest.
\n(vi)\u00a0\u00a0\u00a0\u00a0It is a stock of assets used in production.
\n(vii)\u00a0\u00a0\u00a0\u00a0It is used to purchase farm inputs, e.g., seeds, agro-chemicals used as working capital.
\n(viii)\u00a0\u00a0\u00a0\u00a0It is used to acquire other factors, e.g., land and labour.
\n(ix)\u00a0\u00a0\u00a0\u00a0It is obtained in form of loans or subsidies.
\n(x)\u00a0\u00a0\u00a0\u00a0Capital is grouped into two classes:
\n(a)\u00a0\u00a0\u00a0\u00a0Fixed Capital: <\/strong>These are capital or assets purchased for continuous use in production. In other words, these are items or materials which are not uses up during production. Examples of fixed capital include: farm building, motor vehicles, farm tools and implements, land furniture and fittings, incubators, ploughs, harrows, tractors, milking machines, feeders, drinkers, hoes, irrigation equipment, etc.
\n(b)\u00a0\u00a0\u00a0\u00a0Working or Variable Capital: <\/strong>These are capital or assets which are used up during the process of production. Examples include: water, feeds, drugs, cash in hand, vaccines, litters, fertilizers, seeds, chemicals, etc.
\nImportance of Capital in Agricultural Enterprise
\n<\/strong><\/p>\n

    \n
  1. \n
    Working capital is used in the day\u2013to-day running of the farm enterprise.
    \n\t\t\t\t\t<\/strong><\/div>\n<\/li>\n
  2. \n
    Working capital is used for paying wages.
    \n\t\t\t\t\t<\/strong><\/div>\n<\/li>\n
  3. \n
    Working capital is used for the purchase of farm inputs, maintenance services on the farm, and feeding of livestock, etc.
    \n\t\t\t\t\t<\/strong><\/div>\n<\/li>\n
  4. \n
    Fixed capital in form of immovable houses and farmsteads provide shelter for farm operations.
    \n\t\t\t\t\t<\/strong><\/div>\n<\/li>\n
  5. \n
    Fixed capital in form of machinery provides farm power for farm operations.
    \n\t\t\t\t\t<\/strong><\/div>\n<\/li>\n
  6. \n
    Fixed capital is used to generate more funds and the success of farm enterprises usually depends on the maximum use of these capital assets.
    \n\t\t\t\t\t<\/strong><\/div>\n<\/li>\n
  7. \n
    Working capital helps to facilitate farm expansion or increase in farm size.
    \n\t\t\t\t\t<\/strong><\/div>\n<\/li>\n
  8. \n
    Capital is used to establish farm enterprise.
    \n\t\t\t\t\t<\/strong><\/div>\n<\/li>\n<\/ol>\n

    Questions1,What is capital.
    \n<\/strong> 2.State two types of capital.
    \n<\/strong> 3.State five features of capital.
    \n<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

    \u00a0WEEK 3 CAPITAL Definition: Capital includes all man-made productive assets which are used in production….<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,84],"tags":[],"class_list":["post-474","post","type-post","status-publish","format-standard","hentry","category-posts","category-third-term-jss1-agricultural-science"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/comments?post=474"}],"version-history":[{"count":1,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/474\/revisions"}],"predecessor-version":[{"id":475,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/posts\/474\/revisions\/475"}],"wp:attachment":[{"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/media?parent=474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/categories?post=474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ecolebooks.com\/nigeria\/wp-json\/wp\/v2\/tags?post=474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}