1.1 | Agriculture’s Role in Quality of Life and Standard of Living
Anthony Farao
Standard of Living vs. Quality of Life:
- Standard of Living refers to measurable economic factors: income, housing, food access, and employment.
- Quality of Life includes well-being factors: education, safety, community support, leisure, and health.
Agriculture contributes to both. It provides jobs, produces essential goods, and supports local economies. It also influences health and well-being through access to fresh food and the stewardship of natural environments.
Examples of Impact:
- Farm jobs support rural school systems and infrastructure.
- Food deserts are reduced through farmers markets and CSAs.
- Sustainable farming practices improve environmental health.
💡 Quick Connect: How has agriculture impacted the quality of life in your hometown?
Career Sectors in Agribusiness:
- Production (crops and livestock)
- Finance and Lending
- Agricultural Education and Extension
- Marketing and Communications
- Natural Resources and Environmental Management
Suggested Visuals:
- Side-by-side photos: Rural farm town vs. urban grocery store
- Infographic: Factors that influence quality of life
Meeting the Challenges of Today’s Dynamic Agricultural Business Environment
Overview and Outline
Below is the content of Lecture A. At the completion of this Chapter, the student will be able to explain:
- To contrast a business vs. a non-profit
- To debate how businesses and nonprofit organizations add to a country’s standard of living and quality of life.
- To debate the importance of entrepreneurship to the wealth of an economy and show the relationship of profit to risk assumption.
- To explain the factors of production in business
After reading, you should come back and watch the video.
Learning and Review
Businesses attempt to earn a profit by providing goods and services desired by their customers. Not-for-profit organizations, though not striving for a profit, still deliver many needed services for our society. Our standard of living is measured by the output of goods and services. Thus, businesses and not-for-profit organizations help create our standard of living. Our quality of life is not simply the amount of goods and services available for consumers but rather the society’s general level of happiness.
Economists refer to the building blocks of a business as the factors of production. To produce anything, one must have natural resources, labor (human resources), capital, and entrepreneurship to assemble the resources and manage the business. Today’s competitive business environment is based upon knowledge and learning. The companies that succeed will be those that learn fast, use knowledge efficiently, and develop new insights.
