Coffee Bean Market - Arabica by XueTing Lee https://padlet.com/lee_xueting/16S16GROUP1 en-us 2016-04-06 00:25:41 UTC 2023-03-15 22:15:41 UTC hello@padlet.com Chat Box lee_xueting https://padlet.com/lee_xueting/16S16GROUP1/wish/104257878 Ms Lee: Hi
E learning is love]]> 2016-04-04 06:39:46 UTC https://padlet.com/lee_xueting/16S16GROUP1/wish/104257878 Conclusion lee_xueting https://padlet.com/lee_xueting/16S16GROUP1/wish/104257879 Hence both fall in supply and demand will reinforce each other to create a greater fall in equilibrium quantity. However the equilibrium price is indeterminate as the greater shift of supply curve, the greater the change in price and quantity.]]> 2016-04-04 06:38:57 UTC https://padlet.com/lee_xueting/16S16GROUP1/wish/104257879 Body: State the new (final) equilibrium lee_xueting https://padlet.com/lee_xueting/16S16GROUP1/wish/104257880 The final equilibrium is at the intersection of price P2 and quantity Q2 at the equilibrium point E2.]]> 2016-04-04 06:38:13 UTC https://padlet.com/lee_xueting/16S16GROUP1/wish/104257880 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/16S16GROUP1/wish/104257881 Note: Please draw the diagram manually, take a photo and upload it by clicking the "video icon". 

Initially, the market is in equilibrium at the intersection of D1 and supply S1 at equilibrium point E1. As there was a recession recently, this would lead to a decrease in supply and since consumers are looking for other alternatives like robusta, the demand for arabica will also decrease too. With the fall in supply, the supply curve shifts from S1 to S2 and the fall in demand will shift the demand curve from D1 to D2. At original price P1, there is a surplus QsQd, this exerts a downward pressure on the price which causes it to fall. Thus the drop in prices will lead to a fall in Qs and a rise in Qd and is continued till surplus at E2 is eliminated.]]> 2016-04-04 06:35:51 UTC https://padlet.com/lee_xueting/16S16GROUP1/wish/104257881 Body: Decide the direction and magnitude in which the curves shift lee_xueting https://padlet.com/lee_xueting/16S16GROUP1/wish/104257882 The supply curve and demand curve shifts leftwards. The demand curve will shift to the left with a greater magnitude as compared to the supply curve which is shifting to the left too.]]> 2016-04-04 06:34:27 UTC https://padlet.com/lee_xueting/16S16GROUP1/wish/104257882 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/16S16GROUP1/wish/104257883 An increase in the number of middle class consumers of coffee beans has led to an increase in demand for robusta beans. Since robusta beans and arabica beans are close substitutes, when the demand for robusta beans increases, the demand for arabica beans will decrease.
A stagnation in the consumption of arabica beans in developed countries means that the taste and preferences of the demographic have shifted to robusta beans, causing the demand for arabica beans to fall.
Good weather has resulted in a greater harvest of arabica beans, which hence increases the suppy of these beans. However, the recession that occurred would result in the rising cost of production to produce arabica beans. Thus since cost of production rises, their profits made will decrease till they start making losses leading to a decrease in supply and total revenue.

]]> 2016-04-04 06:32:26 UTC https://padlet.com/lee_xueting/16S16GROUP1/wish/104257883 Body: State the initial equilibrium lee_xueting https://padlet.com/lee_xueting/16S16GROUP1/wish/104257884 The initial equilibrium is at the intersection of price P1 and quantity Q1 at the equilibrium point E1.]]> 2016-04-04 06:31:44 UTC https://padlet.com/lee_xueting/16S16GROUP1/wish/104257884 Introduction lee_xueting https://padlet.com/lee_xueting/16S16GROUP1/wish/104257885 Explain market mechanism:Means by which the forces of demand and supply determines prices and quantities of  goods and services offered for sale in a free market to determine the equilibrium price 

Define demand: Demand is to describe a consumer's desire and willingness to pay a price for a specific good or service, ceteris peribus.Demand falls as prices increase and vice versa.


Define supply : The amount of a good producers are willing and able to put up for sale given a period of time and various prices. Various prices implies the amount of good that the producers are willing to supply depending on the prices of their good.



]]> 2016-04-04 06:30:11 UTC https://padlet.com/lee_xueting/16S16GROUP1/wish/104257885 Welcome:) lee_xueting https://padlet.com/lee_xueting/16S16GROUP1/wish/104257886 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/16S16GROUP1/wish/104257886 Topic: Demand, Supply & Market Equilibrium lee_xueting https://padlet.com/lee_xueting/16S16GROUP1/wish/104257887 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/16S16GROUP1/wish/104257887 Group name: lee_xueting https://padlet.com/lee_xueting/16S16GROUP1/wish/104257888 Please write out the names of the members in the group.
1. Javier
2. Darren
3. Zavier
4. Sheryl
5.]]> 2016-04-04 06:03:43 UTC https://padlet.com/lee_xueting/16S16GROUP1/wish/104257888 With reference to the 2 news articles,  explain the fall in prices of coffee beans in Brazil. lee_xueting https://padlet.com/lee_xueting/16S16GROUP1/wish/104257889 The fall in prices in Brazil is due to the increasing supply of coffee from other countries  like Vietnam in this case. when the number of producers increase this would lead to more competition between producers . To stay competitive , producers would lower prices in order to maximize total revenue.]]> 2016-04-04 05:52:46 UTC https://padlet.com/lee_xueting/16S16GROUP1/wish/104257889 News Article lee_xueting https://padlet.com/lee_xueting/16S16GROUP1/wish/104257890 2016-04-04 05:51:11 UTC https://padlet.com/lee_xueting/16S16GROUP1/wish/104257890 News Article 1 lee_xueting https://padlet.com/lee_xueting/16S16GROUP1/wish/104257891 2016-04-04 05:48:50 UTC https://padlet.com/lee_xueting/16S16GROUP1/wish/104257891