Coffee Bean Market - Arabica by XueTing Lee https://padlet.com/lee_xueting/16A07GROUP2 en-us 2016-04-06 00:20:22 UTC 2023-03-15 19:39:34 UTC hello@padlet.com Chat Box lee_xueting https://padlet.com/lee_xueting/16A07GROUP2/wish/104257337 Ms Lee: Hi]]> 2016-04-04 06:39:46 UTC https://padlet.com/lee_xueting/16A07GROUP2/wish/104257337 Conclusion lee_xueting https://padlet.com/lee_xueting/16A07GROUP2/wish/104257338 prithi-
The fall in dd reinforces the rise in supply resulting in a sharp decrease in price. However, the effect of qty is indeterminant. It depends on the relative extent of changes in demand and supply.]]> 2016-04-04 06:38:57 UTC https://padlet.com/lee_xueting/16A07GROUP2/wish/104257338 Body: State the new (final) equilibrium lee_xueting https://padlet.com/lee_xueting/16A07GROUP2/wish/104257339 Joei-
The market is back at equilibrium at the intersection of the new dd curve, D2 and the new supply curve, S2 at E2 and equilibrium price falls from P1 to P2 and equilibrium qty increases from Q1 to Q2. ]]> 2016-04-04 06:38:13 UTC https://padlet.com/lee_xueting/16A07GROUP2/wish/104257339 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/16A07GROUP2/wish/104257340 prithi-
There is a simultaneous shift in both the dd and ss curve. The supply curve has a greater shift rightwards as the supply increases. At original price P1, there is a surplus od QdQs. This exerts a downward pressure on price. As the price falls, Qd increases and Qs falls. This is illustrated by the movement along the curves. The process continues until the surplus is eliminated at E2.]]> 2016-04-04 06:35:51 UTC https://padlet.com/lee_xueting/16A07GROUP2/wish/104257340 Body: Decide the direction and magnitude in which the curves shift lee_xueting https://padlet.com/lee_xueting/16A07GROUP2/wish/104257341 khalishah-
As the demand of coffee beans fall, it shifts to the left. The supply curve shifts to the right due the increase in the supply of coffee beans. Supply curve has a greater shift compared to the demand curve.]]> 2016-04-04 06:34:27 UTC https://padlet.com/lee_xueting/16A07GROUP2/wish/104257341 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/16A07GROUP2/wish/104257342 (Hanis)
Supply factor #1:"Low arabica prices are accompanied by rising costs. Coffee is a labour-intensive crop; picking is still largely done by hand. Wages in Brazil and Colombia are rising fast and production costs are above prices."-The increased cost of inputs(FOP) decreases the profit as cost of productions(COP) rises.This would lead to a fall in the supply of coffee so as to minimise loss to suppliers,ceteris paribus.There will be a leftward shift in supply curve.

Supply factor #2:"To make matters worse for arabica growers, falling prices have been accompanied by rising costs: coffee is still largely picked by hand, and wages are rising fast in Brazil and Colombia. Many Brazilian and Colombian farmers invested to boost production of arabica in response to the high prices of 2011, which has added to the oversupply and further depressed prices." .This proves that the increased cost of production for coffee would lead to a fall in supply,ceteris paribus,so as to ensure that profits would be minimised to the producers.There will be a leftward shift in supply curve.

Demand factor#1:"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, robusta is the bean of choice." This explains the change in taste and preferances of demand as the sudden increase in demand for coffee would lead to a rise in demand for it,ceteris paribus.There will be a rightward shift in demand curve


]]> 2016-04-04 06:32:26 UTC https://padlet.com/lee_xueting/16A07GROUP2/wish/104257342 Body: State the initial equilibrium lee_xueting https://padlet.com/lee_xueting/16A07GROUP2/wish/104257343 joei-
Initially the market is at equlibrium at the intersection of demand curve D1 and supply curve S1 at point E1. Equilibrium price is at P1 and equilibrium quantity is at Q1.]]> 2016-04-04 06:31:44 UTC https://padlet.com/lee_xueting/16A07GROUP2/wish/104257343 Introduction lee_xueting https://padlet.com/lee_xueting/16A07GROUP2/wish/104257344
Hanis-
Explain market mechanism:
Forces of demand and supply determine prices and quantities of goods and services offered for sale in a free market.

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

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




]]> 2016-04-04 06:30:11 UTC https://padlet.com/lee_xueting/16A07GROUP2/wish/104257344 Welcome:) lee_xueting https://padlet.com/lee_xueting/16A07GROUP2/wish/104257345 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/16A07GROUP2/wish/104257345 Topic: Demand, Supply & Market Equilibrium lee_xueting https://padlet.com/lee_xueting/16A07GROUP2/wish/104257346 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/16A07GROUP2/wish/104257346 Group name: lee_xueting https://padlet.com/lee_xueting/16A07GROUP2/wish/104257347 Please write out the names of the members in the group.
1. joei
2.khalishah
3.prithi
4.hanis
5.]]> 2016-04-04 06:03:43 UTC https://padlet.com/lee_xueting/16A07GROUP2/wish/104257347 With reference to the 2 news articles,  explain the fall in prices of coffee beans in Brazil. lee_xueting https://padlet.com/lee_xueting/16A07GROUP2/wish/104257348
Khalishah- 
Price and Availability of substitutes 
But these drinkers are filling their pots with cheaper robusta beans-what Kona Haque of Macquarie dubs the "emerging-market coffee" - this shows that consumers are switching away from coffee beans to robusta beans which are a cheaper substitute of coffee beans.

Increased No. of Sellers
Vietnam has gone from growing almost nothing a decade ago to producing 25m bags of robusta beans a year today. The result is an oversupply of coffee.' and 'Many Brazilian and Colombian farmers invested to boost production of arabica in response to the high prices of 2011, which has added to the oversupply and further depressed prices.
Many Brazilian and Colombian farmers invested to boost production of arabica in response to the high prices of 2011, which has added to the oversupply and further depressed prices. And good weather in Brazil means that this year's crop has turned out to be unexpectedly large.
When there is a large increase in supply, ceteris paribus, demand of coffee beans will fall. 

]]> 2016-04-04 05:52:46 UTC https://padlet.com/lee_xueting/16A07GROUP2/wish/104257348 NEWS ARTICLE 2 https://padlet.com/lee_xueting/16A07GROUP2/wish/106927948 2016-04-21 06:32:14 UTC https://padlet.com/lee_xueting/16A07GROUP2/wish/106927948 NEWS ARTICLE 1 https://padlet.com/lee_xueting/16A07GROUP2/wish/106928028 2016-04-21 06:32:59 UTC https://padlet.com/lee_xueting/16A07GROUP2/wish/106928028