Coffee Bean Market - Arabica by XueTing Lee https://padlet.com/lee_xueting/16S10GROUP5 en-us 2016-04-06 02:38:42 UTC 2023-02-22 18:43:39 UTC hello@padlet.com News Article 1 lee_xueting https://padlet.com/lee_xueting/16S10GROUP5/wish/104270276 2016-04-04 05:48:50 UTC https://padlet.com/lee_xueting/16S10GROUP5/wish/104270276 News Article lee_xueting https://padlet.com/lee_xueting/16S10GROUP5/wish/104270277 2016-04-04 05:51:11 UTC https://padlet.com/lee_xueting/16S10GROUP5/wish/104270277 With reference to the 2 news articles,  explain the fall in prices of coffee beans in Brazil. lee_xueting https://padlet.com/lee_xueting/16S10GROUP5/wish/104270278 2016-04-04 05:52:46 UTC https://padlet.com/lee_xueting/16S10GROUP5/wish/104270278 Group name: lee_xueting https://padlet.com/lee_xueting/16S10GROUP5/wish/104270279 Please write out the names of the members in the group.
1.sin sin
2.rachel 
3.
4.
5.]]> 2016-04-04 06:03:43 UTC https://padlet.com/lee_xueting/16S10GROUP5/wish/104270279 Topic: Demand, Supply & Market Equilibrium lee_xueting https://padlet.com/lee_xueting/16S10GROUP5/wish/104270280 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/16S10GROUP5/wish/104270280 Welcome:) lee_xueting https://padlet.com/lee_xueting/16S10GROUP5/wish/104270282 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/16S10GROUP5/wish/104270282 Introduction lee_xueting https://padlet.com/lee_xueting/16S10GROUP5/wish/104270283 Explain market mechanism:
market mechanism works through the interaction of market forces of demand and supply to determine the equilibrium price 

Define demand:
demand is the amount of goods that a consumer is willing and able to buy given a period of time at various prices

Define supply:
price is the amount of good that supplier are willing and able to offer for sale given a period of time at various prices




]]> 2016-04-04 06:30:11 UTC https://padlet.com/lee_xueting/16S10GROUP5/wish/104270283 Body: State the initial equilibrium lee_xueting https://padlet.com/lee_xueting/16S10GROUP5/wish/104270284 Initially, the coffee bean market is at equilibrium at the intersection of  demand (D1) and supply ( S1) at equilibrium at point E]]> 2016-04-04 06:31:44 UTC https://padlet.com/lee_xueting/16S10GROUP5/wish/104270284 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/16S10GROUP5/wish/104270285 Demand in arabica coffee beans  decreases as the price of substitute,robusta beans decreases. More people will choose to buy robusta beans as they are cheaper,ceteris paribus. substitute are goods that satifsfy similar needs and goods given the same price range.

cost of production of arabica coffee beans increased as the wages for labour workers are rising fast and many coffee bean farmers are poor . hence increase in cost of production will lead to decrease of profit for the farmers,ceteris paribus. profit motivated supplier will decrease supply.

Numbers of sellers decreases as many farmers choose to plant cheaper alternative with lower cost of production eg sugar cane. since planting coffee requires large labour force and money to harvest and plant. hence many farmers will switch to plant sugar canes as it is more profitable..hence supply for coffee beans decreases.


]]> 2016-04-04 06:32:26 UTC https://padlet.com/lee_xueting/16S10GROUP5/wish/104270285 Body: Decide the direction and magnitude in which the curves shift lee_xueting https://padlet.com/lee_xueting/16S10GROUP5/wish/104270286 the demand of arabic beans decreases from D1 to D2, thus supply of arabica beans decrease from S1 to S2. however the decrease in demand is smaller than proportionate to the decrease in supply of arabica beans.]]> 2016-04-04 06:34:27 UTC https://padlet.com/lee_xueting/16S10GROUP5/wish/104270286 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/16S10GROUP5/wish/104270287 Note: Please draw the diagram manually, take a photo and upload it by clicking the "video icon". ]]> 2016-04-04 06:35:51 UTC https://padlet.com/lee_xueting/16S10GROUP5/wish/104270287 Body: State the new (final) equilibrium lee_xueting https://padlet.com/lee_xueting/16S10GROUP5/wish/104270288 there is a increase in equilibirum  price from P1 to P2 and fall in equilibirum quantity from Q1 to Q2.]]> 2016-04-04 06:38:13 UTC https://padlet.com/lee_xueting/16S10GROUP5/wish/104270288 Conclusion lee_xueting https://padlet.com/lee_xueting/16S10GROUP5/wish/104270289 the decrease in demand of arabica beans is due to the increase popularity of the substitute robusta. therefore there is a smaller than proportionate decrease in the demand of arabica beans. resulting in the higher equilibrium price of the beans. in conclusion this means that increase in the demand for robusta beans would affect the demand for arabica beans thus, to cover the cost of production for arabica beans, equilibrium price increases, ceteris paribus ]]> 2016-04-04 06:38:57 UTC https://padlet.com/lee_xueting/16S10GROUP5/wish/104270289 Chat Box lee_xueting https://padlet.com/lee_xueting/16S10GROUP5/wish/104270290 Ms Lee: Hi]]> 2016-04-04 06:39:46 UTC https://padlet.com/lee_xueting/16S10GROUP5/wish/104270290