Coffee Bean Market - Arabica by XueTing Lee https://padlet.com/lee_xueting/16S14S17GROUP2 en-us 2016-04-17 12:40:34 UTC 2026-01-31 02:24:43 UTC hello@padlet.com News Article 1  lee_xueting https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170483 2016-04-04 05:48:50 UTC https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170483 Chat Box lee_xueting https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170484 Ms Lee: Hi
Chin Seng: Lol we are supposed to use this box to chat rather than whatsapp
Ryan: i guess so but i feel that using whatsapp is more convenient
Chin Seng: Oh wellz, they want evidence of us typing. I typed the definiton already 
Ryan: i type the price mechanism liao, how are we going to do the ss and dd curve thing
Chin Seng: Draw then post picture of igt
Kai Wen: Ryan why you give two explanation of price mechanism
Ryan: looks like we cant type at the same time i try to do the initial curve
Ryan: I changed it cuz not sure which one better
Ruey de: is there supposed to be 2 articles?
Ruey De: Oh ya
Chin Seng: So ah De anything you found out?
Ruey De: the articles tell us factors like the rising cost of production due to the fact that coffee is labour intensive and wages are increasing.
Kai Wen: Generally demand increase and supply decrease
Ryan: supply curve will shift more than proportionate right
Ruey De: The 2 articles are just the same arent they?
Ruey De: The supply factor can also be about the natural disaster leading to a decrease in supply right?
Kai Wen: I am thinking that the supply factor is due to the lack of potential alternative
Ruey De: as in?]]> 2016-04-04 06:39:46 UTC https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170484 Conclusion lee_xueting https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170485 Quantity at Q2 is lesser than Q1 while price at P1 is lower than P2. Therefore, this shows that when the quantity supplied is lowered, the prices of the coffee beans rise up .]]> 2016-04-04 06:38:57 UTC https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170485 Body: State the new (final) equilibrium lee_xueting https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170486 The new (final) equilibrium is at E2, Formed by P2 and Q2]]> 2016-04-04 06:38:13 UTC https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170486 Body: Using the market adjustment process, explain how the shift(s) changes the equilibrium price and quantity (Explanation of diagram): lee_xueting https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170487 Note: Please draw the diagram manually, take a photo and upload it by clicking the "video icon". 
From E1, the quantity is at Q1 and price at P2. Once there is a decrease of supply and increase in demand, the supply curve shifts leftwards and demand curve shifts rightwards, causing quantity supplied to be lesser than quantity demanded, creating shortage. This thus results in an upwards pressure on the price to decrease quantity demanded and increase quantity supplied to E2.]]> 2016-04-04 06:35:51 UTC https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170487 Body: Decide the direction and magnitude in which the curves shift lee_xueting https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170488 The supply curve shifts leftward ]]> 2016-04-04 06:34:27 UTC https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170488 Body: Identify and explain whether the factor/event shifts the demand or supply curve. (2 Demand + 1 Supply or 2 Supply + 1 Demand) lee_xueting https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170489 As stated in Artcle 1, ''Coffee is a labour-intensive crop'' and ''Wages in Brazil and Coloumbia are rising fast'', it suggests that the cost of production of coffee has increased. This would then result in a decrease in supply, a leftward shift of the supply curve from S1 to S2, ceteris paribus.

Also stated in Article 1, ''That region has been hit by leaf rust, a fungal disease, which could destroy 30% of the crop this year'', implying that the coffee beans planted could be damaged causing a decline in the supply since damaged coffee beans cannot be sold to consumers, ceteris paribus. As such, this results in a leftward shift of the supply curve S1 to S2.

Stated in Article 2,  "the Central American countries where the finest coffee is grown, including Guatemala, Nicaragua and El Salvador, have been hit by leaf rust, which could wipe out 30% of this year's crop" shows that the supply would decrease due to damaged coffee beans thus causing the supply curve to shift leftwards from S1 to S2, ceteris paribus. ]]> 2016-04-04 06:32:26 UTC https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170489 Body: State the initial equilibrium lee_xueting https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170490 The initial equilibrium is at E1, P1 and Q1.]]> 2016-04-04 06:31:44 UTC https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170490 Introduction lee_xueting https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170491 Explain market mechanism: It is the interaction of the market forces of demand and supply to determine the equilibrium price and output


Define demand:
The amount of a good that consumers are willing and able to purchase in a given period of time at various prices, ceteris paribus.

Define supply:
The amount of a good that producers are willing and able to offer for sale in a given period of time at various prices, ceteris paribus.



]]> 2016-04-04 06:30:11 UTC https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170491 Welcome:) lee_xueting https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170492 Dear Students,

Welcome to Home-Based Learning 2016!

By now, you should have the list of the team members in your group. Each team will analyse 2 articles below to identify 3 evidence/information (2 Demand + 1 Supply or 2 Supply + 1 Demand factors)  to answer the following essay question:

a) With reference to the 2 news articles, explain the fall in prices of coffee beans in Brazil.

To discuss the answers with your group members, double click anywhere on the wall and a virtual "sticky note" will appear at the top. From, enter your name, then you can use the "sticky note" to "chat" with each other. 

For example, Miss Lee: I don't think that is a non-price factor that affects demand. Please remember to write your name before the statement :) 

Lastly, please identify these non-price determinants of demand & supply by quoting the relevant phrases from the article. 

For example, as stated in article 1, "the recession in Europe has hit demand". After quoting the evidence for the article please proceed to explain how this non-price factor affects demand or supply with economic rigour. 

I have provided some scaffolding statements to guide you in your essay development. Address each statement by writing the essay segment in the respective sticky note. Press the pencil button to write the respective essay segment.

]]> 2016-04-04 06:06:48 UTC https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170492 Topic: Demand, Supply & Market Equilibrium lee_xueting https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170493 Objective - Students will be able to identify and explain how the demand and supply factors affect the market for coffee beans.]]> 2016-04-04 06:04:45 UTC https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170493 Group name: lee_xueting https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170494 Please write out the names of the members in the group.
1.Chin Seng
2.Ryan Ng 
3.Ruey De
4.Kai Wen
5.]]> 2016-04-04 06:03:43 UTC https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170494 With reference to the 2 news articles,  explain the fall in prices of coffee beans in Brazil. lee_xueting https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170495 2016-04-04 05:52:46 UTC https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170495 News Article lee_xueting https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170496 2016-04-04 05:51:11 UTC https://padlet.com/lee_xueting/16S14S17GROUP2/wish/106170496