Let us all pray!
Components of EPP in
K-12 Curriculum
Presented by Group 2
• Livestock Production. Livestock is commonly defined as domesticated
AGRICULTURE animals raised in an agricultural setting to produce labor and commodities
is the science and art such as meat, eggs milk, fur, leather, and wool.
of cultivating plants • Agricultural economics. is an applied field of economics concerned
and livestock.
with the application of economic theory in optimizing the production and
Agriculture was the
key development in distribution of food and fiber.
the rise of sedentary • Crop production. Irrigated farm areas mainly grow rice and sugarcane
human civilization, whereas rained areas are planted with coconut, corn and cassava. The
whereby farming of Philippines’ major agricultural products include rice, coconuts, corn,
domesticated species sugarcane, bananas, pineapples, and mangoes.
created food surpluses
that enabled people to
• Modern Agriculture. is a term used to describe the wide type of
live in cities. production practices employed by American Farmers. It makes use of hybrid
seeds of selected variety of a single crop, technologically advanced
equipment and lots of energy subsidies in the form of irrigation water,
fertilizers and pesticides.
THEORY OF ENTREPRENEURSHIP
it is a universal fact that entrepreneurship
is an important factor in economic
development.
An Entrepreneurship is the risk bearer and works
under uncertainty. But no attempts were made by
economics for formulating systematic theory of
entrepreneurship. According to William J. Baumol,
the economic theory has failed to provide a
satisfactory analysis of either the role of the
entrepreneurship or its supply.
1. Economic Theory
The economic entrepreneurship theory has deep
roots in the classical and neoclassical theories of
economics, and the Austrian market process
(AMP). These theories explore the economic
factors that enhance entrepreneurial behavior.
1.1 Classical Theory
The classical theory extolled
the virtues of free trade,
specialization, and
competition. The theory was 1.2 Neo-Classical Theory
the result of Britain’s The neo-classical model
industrial revolution which emerged from the 1.3 Austrian Market Process
took place in the mid-1700 criticisms of the classical (AMP)
and lasted until the 1830s. model and indicated that These unanswered questions of the
The classical movement economic phenomena neo-classical movement led to a new
described the directing role of could be relegated to movement which became known as
the entrepreneur in the instances of pure Austrian Market Process (AMP). The
context of production and exchange, reflect an AMP, a model influenced by Joseph
distribution of goods in a optimal ratio, and transpire Aloi Schumpeter (1934) concentrated
competitive marketplace. in an economic system that on human action in the context of an
Classical theorists articulated was basically closed. economy of knowledge. Schumpeter
three modes of production. (1934) described entrepreneurship as
a driver of market-based systems. In
other words, an important function of
an enterprise was to create something
new which resulted in processes that
served as impulses for the motion of
market economy.
2. Sociological Theory
Sociological theory is the third of the major
entrepreneurship theories. Sociological enterprise
focuses on the social context. In other words, in
the sociological theories the level of analysis is
traditionally the society.
3. Psychological Theory
The level of analysis in psychological theories is the individual.
These theories emphasize personal characteristics that define
entrepreneurship Personality traits need for achievement and locus
of control are reviewed and empirical evidence presented for three
other new characteristics that have been found to be associated
with entrepreneurial inclination. These are risk taking,
innovativeness, and tolerance for ambiguity.
ontrol
3.1.1 Locus of C
o f c o n tr o l is a n important
Locus e concept
p e r s o n a li ty. T h
aspect of e d by
was first introduc
a n R o tt e r in th e 1950s.
Juli
rs to
Rotter (1966) refe
as an
Locus of Control
a l’ s p e rc e p ti o n a bout the
raits Theory individu 3.2 Need fo
3.1 P e r s o n a li ty T
rl y in g m a in causes of r achievem
e rsonality un d e Need for ac ent theory
f in e s p life.
Coon (2 0 0 4 ) d e events in his/her hievement t
a it s a s “ s ta b le qualities that a McClelland
(1961) expl
heory by
tr
s h o w s in m o st situations”. human bein a
gs have a ne ined that
person ed to succee
sts there are accomplish
To the trait theori Entrepreneu , excel or ac d,
d u ri n g in b o rn q ualities or rs are driven hieve.
en by this need
ti a ls o f th e in d iv idual that achieve and
excel. Whil to
poten research ev e there is no
im an
naturally make h idence to su
pport perso
entrepreneur. traits, there nality
is evidence
relationship for the
between ac
motivation hievement
and entrepr
eneurship
(Johnson, 1
990).
4. Opportunity-based Theory
The opportunity-based theory is anchored by names such as
Peter Drucker and Howard Stevenson. An opportunity-based
approach provides a wide-ranging conceptual framework for
entrepreneurship research. Entrepreneurs do not cause change
but exploit the opportunities that change creates. He further
says, “This defines entrepreneur and entrepreneurship, the
entrepreneur always searches for change, responds to it, and
exploits it as an opportunity”.
5. Resource- Based Entrepreneurship Theories
The Resource-based theory of entrepreneurship argues
that access to resources by founders is an important
predictor of opportunity based entrepreneurship and new
venture growth. This theory stresses the importance of
financial, social and human resources.
5.1 Financial Capital/Liquidity Theory
Empirical research has showed that the founding
of new firms is more common when people
have access to financial capital. By implication
this theory suggests that people with financial
capital and more able to acquire resources to
effectively exploit entrepreneurial opportunities,
and set up a firm to do so.
5.3 Human Capital Entrepreneurship Theory
Underlying the human capital entrepreneurship
theory are two factors, education and
experience. The knowledge gained form
education and experience represents a resource
that is heterogeneously distributed across 5.2 Social Capital or Social Network Theory
individuals an in effect central to understanding Entrepreneurs are embedded in a larger social
differences in opportunity identification and network structure that constitutes a significant
exploitation. proportion of their opportunity structure. Snahe
and Eckhardt (2003) says “an individual may
have the ability to recognize that a given
entrepreneurial opportunity exist, but might lack
the social connections to transform the
opportunity into business startup. It is thought
that access to a larger social network might help
overcome this problem”.
In General…
Agriculture is the art and science of cultivating the soil, growing crops and raising livestock. It includes
the preparation of plant and animal products for people to use and their distribution to markets.
Livestock farming is simply the management and breeding of domestic, livestock or farm animals for the
purpose of obtaining their meat and products.
Agricultural Economics is the study of the production, distribution, and consumption of goods and
services related to food.
Crop, in agriculture, a plant or plant product that can be grown and harvested extensively for profit or
subsistence.
Modern agriculture is an ever-changing approach to agricultural innovations and farming practices that
helps farmers increase efficiency and reduce the amount of natural resources needed to meet the world's
food, fuel and fiber demands.
Theory of entrepreneurship it is a universal fact that entrepreneurship is an important factor in economic
development. Entrepreneurship refers to the concept of developing and managing a business venture in
order to gain profit by taking several risks in the corporate world. Simply put, entrepreneurship is the
willingness to start a new business. The five theory of entrepreneurship are Economic Theory, Sociological
Theory, Psychological Theory, Opportunity-based Theory, and Resource- Based Entrepreneurship Theories
that entrepreneur executes all activities due to economic incentives.
[Link]
p-2-module-1-pdf-
[Link]
