Coffee Bean Market - Arabica by XueTing Lee https://padlet.com/lee_xueting/16S05GROUP2 en-us 2016-04-06 00:49:19 UTC 2025-01-12 15:21:59 UTC hello@padlet.com Chat Box lee_xueting https://padlet.com/lee_xueting/16S05GROUP2/wish/104260366 Hi all, Remember to click on the pencil symbol before you start writing. Can someone tell me whether all are present in this group ? 

All present Mrs Ting. Ok Noted.

Mrs Ting: Pls refer to your notes to help you.
Please indicate your name here, if you have done your part for the write-up. 

]]> 2016-04-04 06:39:46 UTC https://padlet.com/lee_xueting/16S05GROUP2/wish/104260366 Conclusion lee_xueting https://padlet.com/lee_xueting/16S05GROUP2/wish/104260367 In conclusion, a fall in demand and a fall in supply curve will cause the equilibrium price and the equilibrium quantity to both decrease.

]]> 2016-04-04 06:38:57 UTC https://padlet.com/lee_xueting/16S05GROUP2/wish/104260367 Body: State the new (final) equilibrium lee_xueting https://padlet.com/lee_xueting/16S05GROUP2/wish/104260368 Final Equilibrium Price : $106

Final Equilibrium Quantity : 79.1]]> 2016-04-04 06:38:13 UTC https://padlet.com/lee_xueting/16S05GROUP2/wish/104260368 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/16S05GROUP2/wish/104260369 Note: Please draw the diagram manually, take a photo and upload it by clicking the "video icon".  

Initially, the coffee market is in equilibrium at the intersection of demand (D1) and supply (S1) at equilibrium point E1. Since both demand and supply decreases, both demand and supply curve will shift to the left. However because there is more factors affecting the demand curve, the demand curve will shift further to the left than the supply curve. As a result, this causes the equilibrium price to fall and also cause an excess of supply.]]> 2016-04-04 06:35:51 UTC https://padlet.com/lee_xueting/16S05GROUP2/wish/104260369 Body: Decide the direction and magnitude in which the curves shift lee_xueting https://padlet.com/lee_xueting/16S05GROUP2/wish/104260370 Supply curve : leftward shift
Demand curve: rightward shift]]> 2016-04-04 06:34:27 UTC https://padlet.com/lee_xueting/16S05GROUP2/wish/104260370 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/16S05GROUP2/wish/104260371 Demand Factor: Price of related goods: Competitive Supply. When prices of related goods change, the relative profitability of different goods changes. When goods are in Competitive supply, more production of one good means less  of the other will be produced as resources can be switched quite easily from one use to the other. Both Arabica and Robusta beans are in Competitive Supply. Robusta farmers are upset by falling prices: their beans now fetch around $106 a 60kg bag, a four-year low and less than half what they could get a couple of years ago. When there is an increase in demand for Robusta beans, it will in turn cause a decrease in demand for Arabica beans. A rightward shift in demand curve of Robusta beans will in turn cause a leftward shift in  

Demand factor 2: The taste and preferences of people will cause a shift in the demand curve. In the developing countries such as China, Indonesia and Brazil, meanwhile, where the emerging middle classes are discovering the joys of coffee and the market is growing by around 5% a year. People now prefer coffee as one of their beverages as it is a an affordable luxury good those the middle class people in developing country. As more and more people turn to coffee as one of their choices as drinks, the demand for coffee will increase as price remains the same. This will result in a rightwards shift of the demand curve.

Suppplu factor 1: There is an decrease in supply of coffee beans as the cost of producing coffee increases. This is because coffee beans are hand picked by workers. The rising in wages makes it more expensive for farmers to hire workers to harvest the coffee beans. Thus farmers in countries such as Brazil and Colombia produce less coffee bean with the same amount of money they've invested due to the increase in cost of production. ]]> 2016-04-04 06:32:26 UTC https://padlet.com/lee_xueting/16S05GROUP2/wish/104260371 Body: State the initial equilibrium lee_xueting https://padlet.com/lee_xueting/16S05GROUP2/wish/104260372 Price equilibrium : $214
Quantity equilibrium :60kg]]> 2016-04-04 06:31:44 UTC https://padlet.com/lee_xueting/16S05GROUP2/wish/104260372 Introduction lee_xueting https://padlet.com/lee_xueting/16S05GROUP2/wish/104260373 Explain market mechanism: It is a free market economy where the resources are allocated based on prices if grids and services.


Define demand: Demand is defined as the amount of a good that consumers are able and willing to purchase in  given period of time at various prices


Define supply: Supply is defined as the amount of a good that producers are able and willing to offer for sale in a give period of time at various places.




]]> 2016-04-04 06:30:11 UTC https://padlet.com/lee_xueting/16S05GROUP2/wish/104260373 Welcome:) lee_xueting https://padlet.com/lee_xueting/16S05GROUP2/wish/104260374 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/16S05GROUP2/wish/104260374 Topic: Demand, Supply & Market Equilibrium lee_xueting https://padlet.com/lee_xueting/16S05GROUP2/wish/104260375 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/16S05GROUP2/wish/104260375 Group name: lee_xueting https://padlet.com/lee_xueting/16S05GROUP2/wish/104260376 Please write out the names of the members in the group.
1. Zhenghan
2. Bryan
3. Yang Yang
4. Melvin
5. Wenhao]]> 2016-04-04 06:03:43 UTC https://padlet.com/lee_xueting/16S05GROUP2/wish/104260376 With reference to the 2 news articles,  explain the fall in prices of coffee beans in Brazil. lee_xueting https://padlet.com/lee_xueting/16S05GROUP2/wish/104260377 The fall in prices of coffee beans in Brazil is deal to the rise of a cheaper substitute of the traditional coffee bean---Robusta. Robusta is much cheaper than arabica coffee beans and thus is more popular in Brazil as consumers prefer cheap product. Strong demand for entry-level coffee-40% of the world's coffee crop is now robusta beans. This cause the demand for arabica coffee to fall as more consumers are now buying the robusta coffee beans. This cause a surplus and the producers have to lower the price of the coffee bean until a new equilibrium price($106 per 60kg) is achieved. With the fall in price of arabica coffee beans and the low price of robusta coffee beans, the prices of coffee beans in Brazil thus decrease.]]> 2016-04-04 05:52:46 UTC https://padlet.com/lee_xueting/16S05GROUP2/wish/104260377 News Article lee_xueting https://padlet.com/lee_xueting/16S05GROUP2/wish/104260378 2016-04-04 05:51:11 UTC https://padlet.com/lee_xueting/16S05GROUP2/wish/104260378 News Article 1 lee_xueting https://padlet.com/lee_xueting/16S05GROUP2/wish/104260379 2016-04-04 05:48:50 UTC https://padlet.com/lee_xueting/16S05GROUP2/wish/104260379