Coffee Bean Market - Arabica by XueTing Lee https://padlet.com/lee_xueting/16S15GROUP2 en-us 2016-04-06 00:23:57 UTC 2023-07-26 05:06:20 UTC hello@padlet.com Chat Box lee_xueting https://padlet.com/lee_xueting/16S15GROUP2/wish/104257634 Ms Lee: Hi
Clement: Hi
erynn:
Jing Ting : Hi]]> 2016-04-04 06:39:46 UTC https://padlet.com/lee_xueting/16S15GROUP2/wish/104257634 Conclusion lee_xueting https://padlet.com/lee_xueting/16S15GROUP2/wish/104257635 The increase in supply and decrease in demand reinforces the fall in price of coffee bean in Brazil, while the new equilibrium quantity is indeterminate. Assuming the rise in supply is more than the fall in demand since there is more factors increasing supply than factors decreasing deman, the new equilibrium quantity will be higher than the original equilibrium quantity. ]]> 2016-04-04 06:38:57 UTC https://padlet.com/lee_xueting/16S15GROUP2/wish/104257635 Body: State the new (final) equilibrium lee_xueting https://padlet.com/lee_xueting/16S15GROUP2/wish/104257636 At the new equilibrium price , P2 where the new supply curve intersects the new demand curve , the new equilibrium quantity Q2 is higher than the initial equilibrium Q1.  ]]> 2016-04-04 06:38:13 UTC https://padlet.com/lee_xueting/16S15GROUP2/wish/104257636 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/16S15GROUP2/wish/104257637 Note: Please draw the diagram manually, take a photo and upload it by clicking the "video icon". 
At the original price, P1, quantity supplied (QS) is more than quantity demanded (QD). This results in a surplus of, QS-QD. There is a downward pressure on price. As price falls, the quantity demanded increases while the quantity supplied decreases, reducing the surplus. the price stops falling at P2 where quantity demanded=quantity supplied=equilibrium quantity and the surplus is deminished.]]> 2016-04-04 06:35:51 UTC https://padlet.com/lee_xueting/16S15GROUP2/wish/104257637 Body: Decide the direction and magnitude in which the curves shift lee_xueting https://padlet.com/lee_xueting/16S15GROUP2/wish/104257638 The supply curve will shift to the right more than the demand curve shift to the left]]> 2016-04-04 06:34:27 UTC https://padlet.com/lee_xueting/16S15GROUP2/wish/104257638 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/16S15GROUP2/wish/104257639 There is a fall in demand because coffee bean drinkers are switching to cheaper alternatives such as sugarcane which is of low price which results to a fall in quantity demanded for coffee beans . since consumers will switch from coffee bean to sugarcane .

There is a increase in supply due to the good favourable weather for farming in Brazil  which has accounted for the large production of crops. The decrease in the marginal cost of production has increased supply because at the same price, higher quantity of coffee beans is being produced.


The oversupply of coffee beans has also accounted for the fall in price. The sale of cheaper robusta beans is booming. As stated in the article, emerging countries like Vietnam has gone from growing almost nothing a decade ago to producing 25M bags of robusta beans a year today. As a result, the increase in number of sellers has led to a drop in price of coffee beans in Brazil.

]]> 2016-04-04 06:32:26 UTC https://padlet.com/lee_xueting/16S15GROUP2/wish/104257639 Body: State the initial equilibrium lee_xueting https://padlet.com/lee_xueting/16S15GROUP2/wish/104257640 The initial equilibrium is at P1 and Q1 where the demand curve intersects the supply curve.]]> 2016-04-04 06:31:44 UTC https://padlet.com/lee_xueting/16S15GROUP2/wish/104257640 Introduction lee_xueting https://padlet.com/lee_xueting/16S15GROUP2/wish/104257641 Explain market mechanism:
In a Free Market economy, resources are allocated based on prices of goods and services.


Define demand:
The amount of a good that consumers are able and willing to purchase in a give period of time at various prices

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




]]> 2016-04-04 06:30:11 UTC https://padlet.com/lee_xueting/16S15GROUP2/wish/104257641 Welcome:) lee_xueting https://padlet.com/lee_xueting/16S15GROUP2/wish/104257642 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/16S15GROUP2/wish/104257642 Topic: Demand, Supply & Market Equilibrium lee_xueting https://padlet.com/lee_xueting/16S15GROUP2/wish/104257643 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/16S15GROUP2/wish/104257643 Group name: lee_xueting https://padlet.com/lee_xueting/16S15GROUP2/wish/104257644 Please write out the names of the members in the group.
1.Erynn
2.Jing Ting
3.Clement 
4.Keane
5.]]> 2016-04-04 06:03:43 UTC https://padlet.com/lee_xueting/16S15GROUP2/wish/104257644 With reference to the 2 news articles,  explain the fall in prices of coffee beans in Brazil. lee_xueting https://padlet.com/lee_xueting/16S15GROUP2/wish/104257645 demand of sugarcane, a substitute of coffee has increase due to the decrease of price of sugarcane

]]> 2016-04-04 05:52:46 UTC https://padlet.com/lee_xueting/16S15GROUP2/wish/104257645 News Article lee_xueting https://padlet.com/lee_xueting/16S15GROUP2/wish/104257646 2016-04-04 05:51:11 UTC https://padlet.com/lee_xueting/16S15GROUP2/wish/104257646 News Article 1 lee_xueting https://padlet.com/lee_xueting/16S15GROUP2/wish/104257647 2016-04-04 05:48:50 UTC https://padlet.com/lee_xueting/16S15GROUP2/wish/104257647