Who loves kimchi? Class 3 by Mr Kelly

INSTRUCTIONS

kmatthew6_1 — 2021-09-07 14:29:11 UTC

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

2021-09-08 07:06:24 UTC

A massive amount of people consume kimchi locally and this decrease in quantity due to the weather was very sudden

The change in weather/season is a non price determinant

193471 — 2021-09-08 07:06:43 UTC

Even though the price dramatically increased, will the quantity demanded for cabbage remain somewhat stable since Kimchi is such a large part of Korean culture?

2021-09-08 07:07:10 UTC

Kimchi News

2021-09-08 07:07:55 UTC

There have been a shortage of the supply of Kimchi making it not be able to meet the quantity demanded by the entirety of Korea.

1670914 — 2021-09-08 07:08:32 UTC

Since cabbage is very wide, it has little/no substitute. Therefore, making the PED<1?

This article shows us that price for cabbage is inelastic also the stat saying that 95% of the population eats kimchi more than once a day

2021-09-08 07:08:41 UTC

2021-09-08 07:08:44 UTC

if there is a shortage of quality kimchi will a lot of people buy low quality kimchi or just not buy it at all?

2021-09-08 07:08:44 UTC

Since the price rose the PED is <1 therefore it is inelastic?

2021-09-08 07:08:54 UTC

Would PED would be inelastic for cabbage because it is a primary commodity and widely viewed as a necessity for Koreans?

2021-09-08 07:09:25 UTC

kimchi is price inelastic because it is always demanded regardless of price change?