Coffee Bean Market - Arabica by XueTing Lee https://padlet.com/lee_xueting/16S20GROUP4 en-us 2016-04-06 00:33:00 UTC 2023-04-07 03:10:42 UTC hello@padlet.com News Article 1 lee_xueting https://padlet.com/lee_xueting/16S20GROUP4/wish/104258579 2016-04-04 05:48:50 UTC https://padlet.com/lee_xueting/16S20GROUP4/wish/104258579 News Article lee_xueting https://padlet.com/lee_xueting/16S20GROUP4/wish/104258580 2016-04-04 05:51:11 UTC https://padlet.com/lee_xueting/16S20GROUP4/wish/104258580 With reference to the 2 news articles,  explain the fall in prices of coffee beans in Brazil. lee_xueting https://padlet.com/lee_xueting/16S20GROUP4/wish/104258581 Pungent smell affects demand. Demand for the coffee beans fall as pungent smell reduces the tendency for people to purchase them as people prefer more fragrant smelling ones. Resulting in a leftward shift of the demand curve.

Europe recession affects demand. Income of consumers decreases, purchasing power decreases as well. Leftward shift of demand curve.

Rising labor cost affects supply. Coffee bean picked by hand, more expensive to produce coffee beans. Suppliers produce less, leftwards shift of the supply curve.]]> 2016-04-04 05:52:46 UTC https://padlet.com/lee_xueting/16S20GROUP4/wish/104258581 Group name: lee_xueting https://padlet.com/lee_xueting/16S20GROUP4/wish/104258582 Please write out the names of the members in the group.
1. Loh Sher Chien
2. Lucas Neo
3. Marcus Sea
4. Joshua Lim]]> 2016-04-04 06:03:43 UTC https://padlet.com/lee_xueting/16S20GROUP4/wish/104258582 Topic: Demand, Supply & Market Equilibrium lee_xueting https://padlet.com/lee_xueting/16S20GROUP4/wish/104258583 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/16S20GROUP4/wish/104258583 Welcome:) lee_xueting https://padlet.com/lee_xueting/16S20GROUP4/wish/104258584 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/16S20GROUP4/wish/104258584 Introduction lee_xueting https://padlet.com/lee_xueting/16S20GROUP4/wish/104258585 The market for coffee beans is determined by the forces of demand and supply. Demand for coffee beans is the amount of coffee beans that consumers are willing and able to buy in a given time period at various prices, ceteris paribus.
Supply of coffee beans is the amount of coffee beans that producers are willing and able to produce in a given time period at various prices, ceteris paribus.]]> 2016-04-04 06:30:11 UTC https://padlet.com/lee_xueting/16S20GROUP4/wish/104258585 Body: State the initial equilibrium lee_xueting https://padlet.com/lee_xueting/16S20GROUP4/wish/104258586 Initially, the equilibrium point is at point E1, where the demand curve D1 cuts the supply curve S1, at quantity Q1 and price P1.]]> 2016-04-04 06:31:44 UTC https://padlet.com/lee_xueting/16S20GROUP4/wish/104258586 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/16S20GROUP4/wish/104258587 Pungent smell affects demand. Demand for the coffee beans fall as pungent smell reduces the tendency for people to purchase them as people prefer more fragrant smelling ones. Resulting in a leftward shift of the demand curve.

Europe recession affects demand. Income of consumers decreases, purchasing power decreases as well. Leftward shift of demand curve.

Rising labor cost affects supply. Coffee bean picked by hand, more expensive to produce coffee beans. Suppliers produce less, leftwards shift of the supply curve.]]> 2016-04-04 06:32:26 UTC https://padlet.com/lee_xueting/16S20GROUP4/wish/104258587 Body: Decide the direction and magnitude in which the curves shift lee_xueting https://padlet.com/lee_xueting/16S20GROUP4/wish/104258588 Demand curve shifts to the left.
Supply curve shifts to the left.
Demand curve shifts more than the supply curve.]]> 2016-04-04 06:34:27 UTC https://padlet.com/lee_xueting/16S20GROUP4/wish/104258588 Body: State the new (final) equilibrium lee_xueting https://padlet.com/lee_xueting/16S20GROUP4/wish/104258590 The original price of coffee beans, quantity supplied and market equilibrium price is at P1, Q1 and E1 respectively. At P1, quantity supplied is greater than that of quantity demanded. This creates a situation of surplus, which exerts downwards pressure on price. As price decreases, quantity supplied decreases and quantity demanded increases. This process continues until a new equilibrium at P2, Q2, and E2 is reached. This price and quantity has decreased from P1 to P2 and Q1 to Q2 respectively.  ]]> 2016-04-04 06:38:13 UTC https://padlet.com/lee_xueting/16S20GROUP4/wish/104258590 Conclusion lee_xueting https://padlet.com/lee_xueting/16S20GROUP4/wish/104258591 The shift of the demand and supply curve reinforce each other to result in an overall decrease in price.]]> 2016-04-04 06:38:57 UTC https://padlet.com/lee_xueting/16S20GROUP4/wish/104258591 Chat Box lee_xueting https://padlet.com/lee_xueting/16S20GROUP4/wish/104258592 Ms Lee: Hi
Mr Chan: Do state your name before adding any comments

]]> 2016-04-04 06:39:46 UTC https://padlet.com/lee_xueting/16S20GROUP4/wish/104258592 Diagram https://padlet.com/lee_xueting/16S20GROUP4/wish/106912721 2016-04-21 02:56:10 UTC https://padlet.com/lee_xueting/16S20GROUP4/wish/106912721