Coffee Bean Market - Arabica by XueTing Lee https://padlet.com/lee_xueting/16S05GROUP5 en-us 2016-04-06 00:49:23 UTC 2023-02-26 03:12:42 UTC hello@padlet.com Chat Box lee_xueting https://padlet.com/lee_xueting/16S05GROUP5/wish/104260408 Mrs Ting: Must click on the pencil symbol, then you can write. Is everyone present? Please refer to your notes.
Pls remember to complete it by this Sat 10am.
Pls indicate your name here if you have done your part in contributing to this write up


everyone has done their part ^^]]> 2016-04-04 06:39:46 UTC https://padlet.com/lee_xueting/16S05GROUP5/wish/104260408 Conclusion lee_xueting https://padlet.com/lee_xueting/16S05GROUP5/wish/104260409 The fall in demand and supply reinforce each other to cause a sharp fall in equilibrium quantity. The greater the fall in demand and supply, the more significant the fall in the equilibrium quantity. However, the effect on equilibrium price is indeterminate and depends on the relative extent of the fall in demand and supply. If fall in demand exceeds fall in supply, P will fall as illustrated above. However, if fall in supply exceeds fall in demand, P will rise.]]> 2016-04-04 06:38:57 UTC https://padlet.com/lee_xueting/16S05GROUP5/wish/104260409 Body: State the new (final) equilibrium lee_xueting https://padlet.com/lee_xueting/16S05GROUP5/wish/104260410 Hence the final equilibrium of the price (E2) of arabic coffee beans is lower than E1.]]> 2016-04-04 06:38:13 UTC https://padlet.com/lee_xueting/16S05GROUP5/wish/104260410 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/16S05GROUP5/wish/104260411 At the original price P1, quantity supplied is more than quantity demanded. This creates a surplus of QdQs. Surplus exerts a downward pressure on the price. As price falls, quantity demanded rises while quantity supplied falls. This continues until Qd is again equal to Qs at E2. At the new equilibrium point E2, equilibrium price and quantity is lower at P2 and Q2 respectively.



(sorry mrs ting, forgot to label E2 at the intersection of S2 and D2 hehe)]]> 2016-04-04 06:35:51 UTC https://padlet.com/lee_xueting/16S05GROUP5/wish/104260411 Body: Decide the direction and magnitude in which the curves shift lee_xueting https://padlet.com/lee_xueting/16S05GROUP5/wish/104260412 Supply decreases by 30%, supply curve shifts to the left (S1 to S2), ceteris paribus.
Demand decreases, demand curve shifts to the left (D1 to D2), ceteris paribus.


]]> 2016-04-04 06:34:27 UTC https://padlet.com/lee_xueting/16S05GROUP5/wish/104260412 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/16S05GROUP5/wish/104260413 Supply 1: According to article 1, "production costs are above prices". Holding the selling price of coffee beans constant, the higher marginal cost of production leaves Brazil with lesser profits. As such, supply decreases.

Supply 2:According to article 1, "Brazilian farmers invested heavily in new acreage and improved yields with better husbandry and more fertiliser." This means that there is an improvement in the technology to produce larger amount of coffee beans. Hence, supply of coffee beans increase.

Demand 1:Robusta and Arabica are substitutes of each other. After the recession in Europe, big companies started to move away from the more expensive arabica beans and started to blend robusta beans into their arabica to make their coffee. Therefore the demand for arabica beans fell, c.p.

]]> 2016-04-04 06:32:26 UTC https://padlet.com/lee_xueting/16S05GROUP5/wish/104260413 Body: State the initial equilibrium lee_xueting https://padlet.com/lee_xueting/16S05GROUP5/wish/104260414 Initially, demand curve D1 intersects supply curve S1, at equilibrium point E1.

]]> 2016-04-04 06:31:44 UTC https://padlet.com/lee_xueting/16S05GROUP5/wish/104260414 Introduction lee_xueting https://padlet.com/lee_xueting/16S05GROUP5/wish/104260415 Explain market mechanism:
Market mechanism works through the interaction of the market forces of dd and ss to determine the equilibrium price and output.
Equilibrium refers to a state pf balance between 2 forces (i.e. between the forces of demand and supply). Thus, the equilibrium price refers to that particular price that clears the market. 

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

Define supply:
Supply is the amount of a good that producers are willing and able 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/16S05GROUP5/wish/104260415 Welcome:) lee_xueting https://padlet.com/lee_xueting/16S05GROUP5/wish/104260416 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/16S05GROUP5/wish/104260416 Topic: Demand, Supply & Market Equilibrium lee_xueting https://padlet.com/lee_xueting/16S05GROUP5/wish/104260417 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/16S05GROUP5/wish/104260417 Group name: lee_xueting https://padlet.com/lee_xueting/16S05GROUP5/wish/104260418 Please write out the names of the members in the group.
1. Michaela 
2. Jia Ling
3. Zi Jie
4. Ruvindya]]> 2016-04-04 06:03:43 UTC https://padlet.com/lee_xueting/16S05GROUP5/wish/104260418 With reference to the 2 news articles,  explain the fall in prices of coffee beans in Brazil. lee_xueting https://padlet.com/lee_xueting/16S05GROUP5/wish/104260419 2016-04-04 05:52:46 UTC https://padlet.com/lee_xueting/16S05GROUP5/wish/104260419 News Article lee_xueting https://padlet.com/lee_xueting/16S05GROUP5/wish/104260420 2016-04-04 05:51:11 UTC https://padlet.com/lee_xueting/16S05GROUP5/wish/104260420 News Article 1 lee_xueting https://padlet.com/lee_xueting/16S05GROUP5/wish/104260422 2016-04-04 05:48:50 UTC https://padlet.com/lee_xueting/16S05GROUP5/wish/104260422 hi https://padlet.com/lee_xueting/16S05GROUP5/wish/107136426 omg hi friends

Quack

yooooooooo

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