Course Covers:
- Supply and demand
- Elasticity
- World marketing
- Functions of the middleman
- Price cycles in agricultural produce
- Agricultural marketing in South Africa
Course Outcomes:
Outcome 1: Supply and Demand
Understand farming as a business, the laws of supply and demand, and how these affect pricing.
Outcome 2: Elasticity
Understand equilibrium, the elasticity of demand, and the laws of diminishing returns.
Outcome 3: World Marketing
Understand fluctuations in supply and demand, their impact on pricing in different regions, and the reasons for production control and subsidies.
Outcome 4: Functions of the Middleman
Understand the financing of marketing, the role of the middleman, risk-bearing, transporting and storing, and standardising and grading.
Outcome 5: Price Cycles
Understand the importance of business size, levels of production, seasonal production, and the price cycle.
Outcome 6: Marketing in South Africa
Understand marketing systems applicable in South Africa, different commodities, and the advantages and disadvantages of control boards.
Outcome 7: Agricultural Markets and Price Risk
Understand agricultural markets, price risk, SA future markets, and commodity changes in Southern Africa.
Outcome 8: Minor Produce and Export Markets
Understand minor produce in South Africa and export markets.
Outcome 9: Livestock Marketing
Understand livestock marketing, the beef value chain, and the grading systems for beef and dairy marketing in South Africa.
Outcome 10: Poultry, Pork, and Sugar
Understand the marketing of poultry, pork, and sugar in South Africa.