Instituto Miguel Ángel de Occidente

First Level of
Economy
Economics 1
5 Products Research
Group: 5°B
Date: 08/10/2020
Presentation

There are two great areas that compose the current economic theory: qualitative and
quantitative. Understanding both helps us to know how the economic agents and
production factors relate with each other.

The purpose of this work is to understand the first level of economy (agriculture). This,
through a research of five different agricultural products, collecting quantitative, and
qualitative data of their production and distribution. These products were chosen
randomly and the idea is to develop notions of potential production that will help to later
understand how the market works.
1) Wheat

Wheat is a cereal plant that is the most

important kind grown in temperate
countries, the grain of which is ground to
make flour for bread, pasta, pastry, etc.

a) The grain comes from a Wheat spike

b) 1 Wheat spike = 1g of wheat
c) Production between 6,000 and 10,000 kilos per hectare
d) Production of 215.3 million hectares of wheat in the world, with a production of 730.5
million tons
e)
f) Wheat needs 12 to 15 inches (31 to 38 centimeters) of water to produce a good crop. It
grows best when temperatures are warm, from 70° to 75° F (21° to 24° C), but not too hot.
Wheat also needs a lot of sunshine, especially when the grains are filling.
g) The worst enemies are diseases—caused by fungi, bacteria, or viruses—insects, and
weeds. In most regions fungal diseases are the greatest threat to wheat crops. Many
problems are controlled by using resistant varieties or by using herbicides and pesticides
to destroy or deter the invading enemy.
h) Wheat grows in many types of soil, but it grows best in well-drained loam or clay-loam
soils. Two major threats to the wheat plant’s growth are poor soil drainage and high levels
of soil acidity.
i) Production is not always the same, there are many factors that may affect the
production of any product. Taking this into account, a graph trying to predict the
behavior of the production of this product was done. Taking “Year X” as the last
production registered and the rest as future years and their possible productions.
j) Formulas

i) X+(X*.01) vi) E+(E*.01)

ii) A+(A*.02) vii) F+(F*01)
iii) B-(B*.02) viii) G-(G*.04)
iv) C-(C*.01) ix) H+(H*.01)
v) D-(D*.04) x) I+(I*.01)

k)
 Global Production of Wheat in Millions of tons
760
752.6
740 737.8 737.5
730.5 730.1
720
715.0
707.9
700 700.9 700.2
693.3
686.4
680

660

640
Year X Year A Year B Year C Year D Year E Year F Year G Year H Year I Year J
l)

2) Corn

Corn is a North American cereal plant that yields large grains, or

kernels, set in rows on a cob. Its many varieties yield numerous
products, highly valued for both human and livestock
consumption.

a) The product grows and comes from Zea mays

b) 1 Zea may = 2 – 7 cobs of corn
c) Production between 10 tons per hectare
d) Corn Production is about 27.8 million tons a year
e)

f) Corn does best with warm, sunny growing weather (75–86° F), well-distributed
intermittent moderate rains, or irrigation (15 or more inches during the growing season),
and 130 or more frost-free days.
g) Even if the weather isn’t ideal, a good, living soil with high humus content will often make
the difference between a good crop and disaster, for humus allows soil to soak up
considerable moisture and hold it for dry periods.
h) Corn has to survive a number of disease threats throughout the season, such as gray leaf
spot, northern corn leaf blight, tar spot and common and southern rust. Managing these
diseases early is essential to keeping your corn crop healthy and protecting your yields.
i) Production is not always the same, there are many factors that may affect the
production of any product. Taking this into account, a graph trying to predict the
behavior of the production of this product was done. Taking “Year X” as the last
production registered and the rest as future years and their possible productions.
j) Formulas
i) (.01 - .005 + .002) * X + X
ii) (.02 - .015 + .007) * A + A
iii) (-.02 - .01 - .015) * B + B
iv) (-.01 + .005 + .004) * C + C
v) (-.04 + .02 + .03) * D + D

Global Production of Corn In Millions of Tons

28.50
28.33

28.00 27.99
27.80

27.50
27.30

27.00 27.06 27.03

26.50

26.00
Year X Year A Year B Year C Year D Year E
k)
3) Rice (Personal Case)

Rice is a swamp grass which is widely cultivated as a source of food, especially in Asia.

a) Rice specially comes from Oryza

glaberrima (African rice) or Oryza sativa (Asian
rice)
b) 70 - 100 grains per panicle
c) Production between 4 tons per hectare. 
d) Total harvested area of approximately 158
million hectares, producing more than 700
million tons annually
e)

f) Rice crop needs a hot and humid climate. It is best suited to regions which have high
humidity, prolonged sunshine and an assured supply of water. The average temperature
required throughout the life period of the crop ranges from 21 to 37º C.
g) Challenges of rice farming on the present threats of: Increasing population, Climate and
global warming; Capital, profit, manpower, and technology; Industrialization.
h) Production is not always the same, there are many factors that may affect the
production of any product. Taking this into account, a graph trying to predict the
behavior of the production of this product was done. Taking “Year X” as the last
production registered and the rest as future years and their possible productions.

Global Production of Rice In Millions of Tons

1000
900
800
700
600
500
400
300
200
100
0
X A B C D E F G H rI J K L M M N O P Q R S
a r r a r a r a r a r a r a r r ea a r a r a r r r ar a r a r ar a r ar
Ye Yea Ye Ye Ye Ye Ye Ye Yea Y Ye Ye Ye Yea Yea Ye Ye Ye Ye Ye Ye
i)
4) Lentils

A lentil is a high-protein pulse that is dried and then soaked and cooked
before eating. There are several varieties of lentils, including green ones
and smaller orange ones, which are typically sold split.

a) Lentils come from a lentil plant

b) 4 to 8 lentils per plant
c) Production between 1,200 kg per hectare
d) Global production of lentils was 6.3 million tons
e)

f) Lentils will grow in poor soil but the yield will be reduced. Lentils will not grow well in
water-logged soil. Lentils grow best in a soil with a pH between 6.0 and 6.5.
g) Lentils have no serious disease problems.
h) Mildew may attack lentils that are too closely planted.
i) Other pests that may attack lentils are thrips, Lygus bugs, seedcorn maggots, and
wireworms.
j) Production is not always the same, there are many factors that may affect the
production of any product. Taking this into account, a graph trying to predict the
behavior of the production of this product was done. Taking “Year X” as the last
production registered and the rest as future years and their possible productions.
k) Formulas
i) (.01 - .005 + .002) * X + X
 ii) (.02 - .015 + .007) * A + A
iii) (-.02 - .01 - .015) * B + B
iv) (-.01 + .005 + .004) * C + C
v) (-.04 + .02 + .03) * D + D

Global Production of Lentils In Millions of Tons

6.45
6.42
6.40
6.35 6.34
6.30 6.30
6.25
6.20 6.19
6.15
6.13 6.13
6.10
6.05
6.00
5.95
Year X Year A Year B Year C Year D Year E
l)

5) Bean
A bean is an edible seed, typically kidney-shaped, growing in long pods on certain leguminous
plants.

a) Beans come from a bean Plant

b) 120 beans per plant
c) Production between 10 to 15 tons per hectare
d) Global production of 12 million tons of dry beans are produced annually

e)
f) Beans need warm soil, consistent moisture and at least six to eight hours of sunlight every
day to thrive. Bean seeds don't germinate well in cold, wet soils.
g) Production is not always the same, there are many factors that may affect the
production of any product. Taking this into account, a graph trying to predict the
behavior of the production of this product was done. Taking “Year X” as the last
production registered and the rest as future years and their possible productions.
h) Formulas

i) X+(X*.01) vii) F+(F*01)

ii) A+(A*.02) viii) G-(G*.04)
iii) B-(B*.02) ix) H+(H*.01)
iv) C-(C*.01) x) I+(I*.01)
v) D-(D*.04) xi) J+(J*.02)
vi) E+(E*.01) xii) K-(K*.005)
 Global Production of Beans In Millions of Tons
12.6
12.4 12.4
12.2
12.1 12.1
12 12.0 12.0
11.8 11.7
11.6 11.6
11.5 11.5
11.4 11.4
11.3
11.2
11
10.8
10.6
Year X Year A Year B Year C Year D Year E Year F Year G Year H Year I Year J
i)

Conclusion
For this project, we investigated 5 different agrarian products, to have a good enough look
at the first level of economy, the numbers that can be involved when we talk about
quantities of these products, the elements and characteristics that may affect the final
production, and how the behavior of the production of these products may look like in a
graphic.
The personal impressions of this project are that It was never thought about how many
factors can affect the production of these type products. And that in a large scale, a small
change or problem, can turn into a huge deal on the long run. Second, I have never used
many graphics, but after this project I can now understand how important they are. By
making it easier to understand the information than with just words.
So, the first level of economy may seem simple, but it actually has a lot of characteristics
and implications behind it that make a bit complex.

Sources:

https://homeguides.sfgate.com/nutrients-bean-plant-need-70562.html#:~:text=Optimal
%20Growth&text=Beans%20also%20need%20warm%20soil,after%20the%20last%20expected
%20frost.
https://harvesttotable.com/how_to_grow_lentil/#:~:text=Lentils%20prefer%20loose%2C%20well
%2Ddrained,pH%20between%206.0%20and%206.5.

https://farmer.gov.in/cropstaticsrice.aspx#:~:text=Rice%20crop%20needs%20a%20hot,tolerate
%20400C%20to%2042%200C.

https://www.ecofarmingdaily.com/grow-crops/grow-corn/soil-requirements/#:~:text=Corn
%20does%20best%20with%20warm,these%20soil%20and%20climatic%20conditions.

https://kids.britannica.com/students/article/wheat/277720#:~:text=Weather%20that%20is
%20comfortable%20for,when%20the%20grains%20are%20filling.

https://www.statista.com/