https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br en-us 2021-09-07 14:31:36 UTC 2021-09-08 03:46:36 UTC hello@padlet.com kmatthew6_1 https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1722052660 As we read the article, throw questions and connections into this Padlet board. Show me what your are thinking. GO PANTHERS

https://www.theguardian.com/world/2020/oct/22/crisis-fermenting-as-cabbage-shortage-hits-south-koreas-kimchi-culture?CMP=Share_iOSApp_Other]]> 2021-09-07 14:32:58 UTC https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1722052660 https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723703514 Due to weather, there has been a shortage of cabbage to make kimchi, a non price determinant of demand, shifting the demand curve inwards(leftward). ]]> 2021-09-08 03:38:11 UTC https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723703514 1854919 https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723703787 There is a shortage for kimchi as people eat kimchi for every meal causing an excess in demand.]]> 2021-09-08 03:38:16 UTC https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723703787 https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723704554 Since Kimchi is a staple in many Korean households and is eaten with almost every dish, it makes the demand of kimchi price inelastic

]]> 2021-09-08 03:38:34 UTC https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723704554 https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723704612 a significant complement as it's integrated in almost every meal. This could mean that the price of meals containing kimchi in general might increase all together ]]> 2021-09-08 03:38:36 UTC https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723704612 19239 https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723705324 Kimchi being a cultural food for Koreans may mean that the elasticity of the food could be lower]]> 2021-09-08 03:38:52 UTC https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723705324 https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723705388 "The shortage, which has seen prices rise by up to 60" – To what extend will this rise in prices contribute to a contraction to quantity demanded? ]]> 2021-09-08 03:38:53 UTC https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723705388 162871 https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723705389 Because cabbage is a primary commodity, its demand is inelastic. Even with a price increase, consumers will still buy it.]]> 2021-09-08 03:38:53 UTC https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723705389 2180815 https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723705500 A lot of Koreans tend to make their own kimchi, and the substitutes like the ingredients for Kimchi are bought directly because of the increase in the price of Kimchi. ]]> 2021-09-08 03:38:56 UTC https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723705500 https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723705501 Demand curve of kimchi shift leftward because of the shortage of cabbage]]> 2021-09-08 03:38:56 UTC https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723705501 2146112 https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723706589 Kimchi is a primary commodity, its price is volatile depending on the supply.]]> 2021-09-08 03:39:24 UTC https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723706589 https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723707156 As Kimchi is a necessity for Koreans, its demand is inelastic - therefore, people will still find ways to make it regardless of whether the price of cabbage increases. ]]> 2021-09-08 03:39:37 UTC https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723707156 1854919 https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723707390 The increase in demand for kimchi will lead to an increase in supply as the firms will ned to match the consumer's demand.]]> 2021-09-08 03:39:43 UTC https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723707390 2180815 https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723707680 Complementary goods like the kimchi fridge might have a decrease in demand. ]]> 2021-09-08 03:39:49 UTC https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723707680 https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723707848 the market of exports and trades of cabbage in china will have a relatively large increase in quantity demanded as more people enter the market, leading to an outward shift of demand ]]> 2021-09-08 03:39:54 UTC https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723707848 https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723708163 Cabbage is a commodity 
The shortage in cabbage causes total revenue for producers to increase due to increase in quantity demanded but higher prices]]> 2021-09-08 03:40:02 UTC https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723708163 https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723708224 There are multiple ingredients certain people use which affects the businesses who increased price]]> 2021-09-08 03:40:03 UTC https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723708224 https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723708716 Because cabbages are in shortage, many people can choose to make kimchi with other things (such as other vegie) and that make those vegie substitute product]]> 2021-09-08 03:40:15 UTC https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723708716 2072317 https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723708740 As typons and droughts have caused a shortage in cabbage, the korean food market must be tanking in sales as the demand sores during this time or year but the supply is shortened significantly.]]> 2021-09-08 03:40:16 UTC https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723708740 https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723708819  As The Kimchi is distributed worldwide, there is an alternative supply that want to gain their cost as the demand is higher]]> 2021-09-08 03:40:18 UTC https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723708819 https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723709272 Kimchi is a primary commodities therefore there are few to no substitues]]> 2021-09-08 03:40:30 UTC https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723709272 https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723710558 The demand of cabbage in Korea could become more inelastic because of the scarcity and the lack of substitutes that can the cabbage ingredient of kimchi.   ]]> 2021-09-08 03:41:03 UTC https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723710558 https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723714295 While this bad national farming of cabbage has reduced the supply, it could still increase the producers of kimchi's total revenue. ]]> 2021-09-08 03:42:37 UTC https://padlet.com/kmatthew6_1/9nh6lg7a6i0q78br/wish/1723714295