# data[].attributes.body
Lim Si Fion
Ching Yu Xuan
Junkai Weng
Josh Lai
Lim Zheng Xian

# data[].attributes.body
https://tendaily.com.au/news/a180613nwx/everything-australians-pay-more-for-and-why-20180630

-Cost of avocados reduced from $9 to around $1.80 in Australia from the start of the year to now
-More than twice the amount consumed today compared to in 2007 (Around 40,000 tonnes in 2007 to around 90,000 tonnes today)
-Reason is because most of Australia's avocados are produced in Australia itself, and not all domestic regions produce at the same time, with production gaps sometimes overlapping, which causes a shortage of avocados
-The demand for avocado is increasing
-The non-price determinant is the taste and preference. Avocado is a delicious yet nutritious food, with many benefits that modern people are seeking, such as being able to help one loss weight

# data[].attributes.body
-Avocados are price elastic, as it is a luxury, and the substitutes are available
-Not needed to survive, and thus isn't a necessity, and is instead a luxury
-The properties and taste of avocados can be easily imitated
-Avocados are also income elastic, as it is a luxury, not a necessity
-As said before, avocados are not needed for survival

# data[].attributes.body
https://www.nzherald.co.nz/thecountry/news/article.cfm?c_id=16&objectid=12087793

- Latin American avocado farmers are emerging and want to enter Australian avocado market

- But there is a fear in New Zealand avocado farmers that if that happens, there might be virus that may seep through and affect harvest.

- and the introduction of Latin American import does not equate to higher profit margins for the industry but could affect it especially at the tail-end of the season

- Specifically, the post-Christmas period where a smaller number of Hass avocados are ready for harvest and will be assisted by the Latin Americans to meet consumers demand

-However, Australia requires the assistance of Latin and Chile farmers in case of emergencies due to their fear that their biosecurities fail and since their supply is affixed to meet demand, there is no surplus for emergencies in the case of a biohazard that may jeopardise the avocado supply.

- since there are many sellers that are selling the same thing and it is difficult to differentiate the products, it would be considered a monopolistic competition and thus, markets will likely come up with ways to sell their own variant of the avocados by trying out different avocados from different regions as to find the best ones to beat out the competition.

# data[].attributes.body
http://www.abc.net.au/news/rural/2018-06-20/avocado-price-drop-a-signal-for-smashing-future/9886046

-Cost of avocado has decreased tremendously decrease by about 89% from January 2018 to June 2018.from $9 a piece in supermarket during non-harvest season to $0.99 a piece in local market during harvest season.
-The average retail price of 1 avocado is currently $1.80.
-The production of avocados is double of the estimated production of 2025.
-The reason of this increase of production is due to the plantation of more avocado trees which lead to an oversupply of avocados.
-The non-price determinant is number of sellers. Production increase means number of sellers for avocados will increase as well which cause an increase in supply.
-Increase in supply by number of seller will cause a right shift in supply curve.
-According to the article, the demand for avocado worldwide is increasing and there is a potential growth in the market over the next few years. Therefore, this is increase the demand of avocados overtime and price of avocado will increase.

# data[].attributes.body
SHORT RUN
Production
- Increasing demand , increasing supply. Supermarket need to increase stocks of avocados to make sure they keep up with the increase in demand
- Marginal Product ; Fixed resource is the storage factories, Variable resource is workers
- Increasing variable resource too much will result in diminishing but positive marginal returns, then to negative returns.
- Due to congestion and  overcrowding.
-Before diminishing marginal returns is positive marginal returns.
- Positive because of specialisation, division of work.
- Should hire workers until their marginal product for 1 variable resource is higher than or equal to their wage.

COSTS
- More explicit costs
-Opportunity costs ; by promoting avocados more , other products will be promoted less, resulting in lesser sales for the other product.
- Explicit costs include rent, wages, utilities expense,  etc.
How to reduce costs
- Use energy saving machines
- close down outlets which are less popular and not performing well
- replace stores with small convenience stores

# data[].attributes.body
https://bgr.com/2018/03/20/iphone-x-sales-demand-slowing-down-2018/

https://blogs.imf.org/2018/02/08/smartphones-drive-new-global-tech-cycle-but-is-demand-peaking/

http://www.marketing-interactive.com/demand-for-4g-smartphones-in-emerging-markets-spurred-growth-in-2017-q2/

http://www.freshplaza.com/article/193498/Demand-for-Mexican-berries-outpacing-supply

http://www.freshplaza.com/article/157238/OVERVIEW-GLOBAL-MARKET-BERRIES

https://www.foodnavigator-latam.com/Article/2018/05/24/Acai-power-How-much-growth-potential-does-this-nutritious-native-berry-truly-have

http://www.fruitnet.com/eurofruit/article/175052/global-berry-growth-to-continue

http://ukrsadprom.org/eng/2018/04/24/ukraine-has-significantly-increased-export-of-fruit-and-berry-products-for-3-months-of-2018/

https://www.kyivpost.com/ukraine-politics/ukrsadprom-expects-fruit-berry-harvest-grow-30-percent-2018.html

# data[].attributes.body
iPhone X article is too old
Demand for 4G smartphone article is also too old
Demand for smartphones article is about as good as nothing, so nothing to write about
Fruits & Berries - interesting and doable - with some interesting concepts, and you can easily cover (1) scarcity and resources, (2) Demand & Supply, and (3) elasticity. Not sure about market structure, you would need to look up another article, but it's definitely doable.