Coffee Bean Market - Arabica by XueTing Lee https://padlet.com/lee_xueting/16S07S15GROUP5 en-us 2016-04-06 00:52:24 UTC 2026-01-17 16:22:41 UTC hello@padlet.com News Article 1 lee_xueting https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260851 2016-04-04 05:48:50 UTC https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260851 News Article lee_xueting https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260852 2016-04-04 05:51:11 UTC https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260852 With reference to the 2 news articles,  explain the fall in prices of coffee beans in Brazil. lee_xueting https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260853 2016-04-04 05:52:46 UTC https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260853 Group name: lee_xueting https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260854 Please write out the names of the members in the group.
1. Goh Nicholas
2. John
3. Zhi Rong
4. Ian
5.]]> 2016-04-04 06:03:43 UTC https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260854 Topic: Demand, Supply & Market Equilibrium lee_xueting https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260855 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/16S07S15GROUP5/wish/104260855 Welcome:) lee_xueting https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260856 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/16S07S15GROUP5/wish/104260856 Introduction lee_xueting https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260857 Explain market mechanism:(Nicholas) It works through the interaction of the market forces of demand and supply to determine the equilibrium price and quantity of coffee offered for sale in the free market. 


Define demand:(Nicholas ian) The amount of goods and services that consumers are able and willing to purchase at different prices in a given period of time, ceteris paribus.

Define supply:(Nicholas ian) The amount of goods and services that producers of coffee are able and willing to offer at different prices 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/16S07S15GROUP5/wish/104260857 Body: State the initial equilibrium lee_xueting https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260858 Initial equilibrium(ian): Initially, the market is in equilibrium at E1, at the intersection of the demand curve D1 and supply curve 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/16S07S15GROUP5/wish/104260858 Body: Identify and explain whether the factor/event shifts the demand or supply curve. (2 Demand + 1 Supply or 2 Supply + 1 Demand)( WE ALL DID THIS lee_xueting https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260859 Demand:
1) Taste and preferences:
Taste and preferences influence the consumers demand for a specific good. With more people preferring robusta coffee to arabica, produced mostly by brazil, the demand of arabica will decrease from D1 to D2


 2) substitute:
Substitutes are goods that satisfy similar needs or desires within the same price range. There are for the coffee as there is now companies that mix robusta with arabica. As such consumers will switch over from the to the blend of new coffee resulting in a decrease in quantity demanded of coffee beans from D1 to D2, ceteris paribus.

Ms Lee: Quantity demanded only changes if there is a change in the price of the coffee itself



Supply: 

Cost of production:
There are rising costs of production of coffee and falling prices to sell these produce moreover, there is an increase in wages for coffee producers, and since coffee is still mostly handpicked it requires a lot of labour, as a result large costs are incurred from manpower and labour, resulting in rising costs. Causing the supply curve to shift left from S1 to S2 and a decrease in quantity supplied from Q1 to Q2, ceteris paribus.

Ms Lee: Lack economic rigour in ur explanation


]]> 2016-04-04 06:32:26 UTC https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260859 Body: Decide the direction and magnitude in which the curves shift( WE ALL DID THIS) lee_xueting https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260860 Supply (All): The supply curve S1 will shift leftwards to S2 due to the rising wages for coffee producers and falling price of coffee. Thus, this reduces the profits earned from the coffee companies such as Nestle. Since Nestle is a corporation and is profit driven, and assuming the price of coffee does not change, this will result in them lowering available supply in the market. Therefore, the supply curve shifts leftward to reflect this change.

Demand (All): The demand curve D1 will shift leftwards to D2 due to more people preferring robusta coffee to arabica coffee. Arabica coffee is mostly produced by Brazil. Furthermore, there is also coffee which are blends of both Robusta and Arabica coffee that are produced outside of Brazil. Thus, these two factors contribute to a decrease in supply which is reflected on the diagram as a leftward shift of the Demand Curve from D1 to D2.]]> 2016-04-04 06:34:27 UTC https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260860 Body: Using the market adjustment process, explain how the shift(s) changes the equilibrium price and quantity (Explanation of diagram): (IAN DID THIS lee_xueting https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260861 Note: Please draw the diagram manually, take a photo and upload it by clicking the "video icon". 

Ms Lee: Please explain the market adjustment process.]]> 2016-04-04 06:35:51 UTC https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260861 Body: State the new (final) equilibrium ( ALL OF US) lee_xueting https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260862 At the new equilibrium E2, equilibrium price falls from P1 to P2, and equilibrium quantity decreases from Q1 to Q2]]> 2016-04-04 06:38:13 UTC https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260862 Conclusion ( ALL OF US) lee_xueting https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260863 Effect of equilibrium qty of coffee beans(C.B): The decrease in both demand and supply will reinforce the decrease in quantity of C.B, as seen from the graph, equilibrium quantity decrease from Q1 to Q2.

Effect on equilibrium price of C.B: The effect on equilibrium price is indeterminate. It depends on the extent of decrease in demand and supply of C.B. Equilibrium price will increase if the extent of fall in supply of C.B is greater than the extent of fall in demand of C.B. Equilibrium price will fall if the extent of the fall in supply of C.B is lesser than the extent of fall in demand of C.B.

]]> 2016-04-04 06:38:57 UTC https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260863 Chat Box lee_xueting https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260864 Ms Lee: Hi
Nicholas: HI MS LEEEE


]]> 2016-04-04 06:39:46 UTC https://padlet.com/lee_xueting/16S07S15GROUP5/wish/104260864