Coffee Bean Market - Arabica by XueTing Lee https://padlet.com/lee_xueting/16S03GROUP1 en-us 2016-04-06 00:45:42 UTC 2023-02-18 07:43:19 UTC hello@padlet.com Chat Box lee_xueting https://padlet.com/lee_xueting/16S03GROUP1/wish/104259944 Ms Lee: Hi]]> 2016-04-04 06:39:46 UTC https://padlet.com/lee_xueting/16S03GROUP1/wish/104259944 Conclusion lee_xueting https://padlet.com/lee_xueting/16S03GROUP1/wish/104259945 The concurrent rise in supply and fall in demand would reinforce each other to cause a sharper fall in equilibrium price. However, the effect on equilibrium quantity is indeterminate as it depends on the relative extent of changes in demand and supply. If the decrease in demand is greater than the increase in supply, equilibrium quantiy will fall. On the other hand, if the decrease in demand is smaller than the increase in supply, equilibrium quantity will rise. ]]> 2016-04-04 06:38:57 UTC https://padlet.com/lee_xueting/16S03GROUP1/wish/104259945 Body: State the new (final) equilibrium lee_xueting https://padlet.com/lee_xueting/16S03GROUP1/wish/104259947 At new equilibrium E2, equilibrium price falls from P1 to P2 and equilibrium quantity rises from Q1 to Q2.


]]> 2016-04-04 06:38:13 UTC https://padlet.com/lee_xueting/16S03GROUP1/wish/104259947 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/16S03GROUP1/wish/104259948 Ms Lee: Please explain the market adjustment process!
Figure 1]]> 2016-04-04 06:35:51 UTC https://padlet.com/lee_xueting/16S03GROUP1/wish/104259948 Body: Decide the direction and magnitude in which the curves shift lee_xueting https://padlet.com/lee_xueting/16S03GROUP1/wish/104259949 A fall in prices will cause the demand for coffee beans to rise in Brazil
The oversupply of coffee beans will cause the fall in price to get rid of the surplus.]]> 2016-04-04 06:34:27 UTC https://padlet.com/lee_xueting/16S03GROUP1/wish/104259949 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/16S03GROUP1/wish/104259950 As stated in Article 1, "recession in Europe has hit demand" As a recession took place in Europe, the income of consumers must decrease significantly. This leads to a drop in purchasing power of the coffee beans consumers. Assuming that coffee beans is a normal good, demand for coffee beans will decrease, ceteris paribus. However, the fall in price will make coffee beans more affordable and hence more people are able to buy it which will result a rise in demand. As a result, demand curve will shift left.

In article 1, it also states "Wages in Brazil and Colombia are rising fast and production costs are above prices". Since coffee is labour intensive which requires to be picked by hand, the cost of production will increase.Hence the profits decrease and suppliers will decrease the supply of coffee.

Ms Lee: Question asked about why there is a fall in price of arabica coffee beans, it will be better to explain why supply increase?]]> 2016-04-04 06:32:26 UTC https://padlet.com/lee_xueting/16S03GROUP1/wish/104259950 Body: State the initial equilibrium lee_xueting https://padlet.com/lee_xueting/16S03GROUP1/wish/104259951 Initially, the market is in equilibrium at E1 at the intersection of demand D1 and supply S1. The initial equilibrium price and quantity is at P1 and Q1 respectively.]]> 2016-04-04 06:31:44 UTC https://padlet.com/lee_xueting/16S03GROUP1/wish/104259951 Introduction lee_xueting https://padlet.com/lee_xueting/16S03GROUP1/wish/104259952 The market mechanism works through the interaction of the market forces of demand and supply to determine the equilibrium price and quantity of coffee beans in Brazil. Demand for coffee beans refers to the amount of coffee beans consumers are willing and able to purchase in a given time period at various prices. Supply for coffee beans refers to the amount of coffee beans producers are willing and able to produce in a given time period at various prices.



]]> 2016-04-04 06:30:11 UTC https://padlet.com/lee_xueting/16S03GROUP1/wish/104259952 Welcome:) lee_xueting https://padlet.com/lee_xueting/16S03GROUP1/wish/104259953 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/16S03GROUP1/wish/104259953 Topic: Demand, Supply & Market Equilibrium lee_xueting https://padlet.com/lee_xueting/16S03GROUP1/wish/104259954 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/16S03GROUP1/wish/104259954 Group name: lee_xueting https://padlet.com/lee_xueting/16S03GROUP1/wish/104259955 Please write out the names of the members in the group.
1. Audrey (Jia Qi)
2.Andrea
3.Carmen
4.Claire
5.Teresa
6.Jia Lei]]> 2016-04-04 06:03:43 UTC https://padlet.com/lee_xueting/16S03GROUP1/wish/104259955 With reference to the 2 news articles,  explain the fall in prices of coffee beans in Brazil. lee_xueting https://padlet.com/lee_xueting/16S03GROUP1/wish/104259956 2016-04-04 05:52:46 UTC https://padlet.com/lee_xueting/16S03GROUP1/wish/104259956 News Article lee_xueting https://padlet.com/lee_xueting/16S03GROUP1/wish/104259957 2016-04-04 05:51:11 UTC https://padlet.com/lee_xueting/16S03GROUP1/wish/104259957 News Article 1 lee_xueting https://padlet.com/lee_xueting/16S03GROUP1/wish/104259958 2016-04-04 05:48:50 UTC https://padlet.com/lee_xueting/16S03GROUP1/wish/104259958