Coffee Bean Market - Arabica by XueTing Lee https://padlet.com/lee_xueting/16S05GROUP3 en-us 2016-04-06 00:49:21 UTC 2024-10-14 20:38:53 UTC hello@padlet.com Chat Box lee_xueting https://padlet.com/lee_xueting/16S05GROUP3/wish/104260380 Mrs Ting, You will need to click on the pencil symbol before writing. Is everyone present? Please  refer to your notes.
Please complete by Sat 10am
Please indicate your name here if you have contributed to the write-up]]> 2016-04-04 06:39:46 UTC https://padlet.com/lee_xueting/16S05GROUP3/wish/104260380 Conclusion lee_xueting https://padlet.com/lee_xueting/16S05GROUP3/wish/104260381 2016-04-04 06:38:57 UTC https://padlet.com/lee_xueting/16S05GROUP3/wish/104260381 Body: State the new (final) equilibrium lee_xueting https://padlet.com/lee_xueting/16S05GROUP3/wish/104260382 This equilibrium price is $106 for 60kg of arabica beans. ]]> 2016-04-04 06:38:13 UTC https://padlet.com/lee_xueting/16S05GROUP3/wish/104260382 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/16S05GROUP3/wish/104260383 Note: Please draw the diagram manually, take a photo and upload it by clicking the "video icon". 
At equilibrium price P1, where price of 60kg of arabica beans is about $212,  the simultaneous decrease in both supply and demand in which demand falls more than supply creates a surplus. This exerts a downward pressure on price; quantity demanded increase and quantity supplied decreases until the equilibrium price E2 is met. This price is $106 for 60kg of arabica beans. ]]> 2016-04-04 06:35:51 UTC https://padlet.com/lee_xueting/16S05GROUP3/wish/104260383 Body: Decide the direction and magnitude in which the curves shift lee_xueting https://padlet.com/lee_xueting/16S05GROUP3/wish/104260384 The supply curve for arabica coffee would shift to the left.
The demand curve for arabica coffee would shift to the left 
The supply curve shifts more than the demand curve.]]> 2016-04-04 06:34:27 UTC https://padlet.com/lee_xueting/16S05GROUP3/wish/104260384 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/16S05GROUP3/wish/104260385 1. Demand factor: Arabica and robusta coffee are substitutes. Because of the recession in Europe, big firms started to move away from the more expensive arabica beans and started to blend robusta beans into their arabica to make their coffee. Therefore the demand for arabica beans coffee fell, c.p
2. Supply factor: A fungal disease, leaf rust, hit Central America which grows much of the coffee, destroying 30% of the crops. Therefore supply of arabica coffee dropped c.p.
3. Demand factor:  In places like China, Indonesia and Brazil, coffee itself is considered an affordable luxury therefore they only choose to drink robusta coffee which is relatively cheaper than arabica. Since their market for robusta coffee is growing, and since arabica and robusta are substitutes, demand for arabica would fall. c.p]]> 2016-04-04 06:32:26 UTC https://padlet.com/lee_xueting/16S05GROUP3/wish/104260385 Body: State the initial equilibrium lee_xueting https://padlet.com/lee_xueting/16S05GROUP3/wish/104260386 Initial equilibrium is at E1 where the supply curve S1 and demand curve D1 intersects. The price at that intersection is said to be P1. ]]> 2016-04-04 06:31:44 UTC https://padlet.com/lee_xueting/16S05GROUP3/wish/104260386 Introduction lee_xueting https://padlet.com/lee_xueting/16S05GROUP3/wish/104260387 Explain market mechanism: Market mechanism works through the interaction of the market forces of demand and supply to determine the equilibrium price and output.


Define demand: Demand is defined as the amount of a good that consumers are able and willing to purchase in a given period of time at various prices.


Define supply: Supply is defined as the amount of good that producers are able and willing to offer for sale in a given period of time at various prices.




]]> 2016-04-04 06:30:11 UTC https://padlet.com/lee_xueting/16S05GROUP3/wish/104260387 Welcome:) lee_xueting https://padlet.com/lee_xueting/16S05GROUP3/wish/104260388 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/16S05GROUP3/wish/104260388 Topic: Demand, Supply & Market Equilibrium lee_xueting https://padlet.com/lee_xueting/16S05GROUP3/wish/104260389 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/16S05GROUP3/wish/104260389 Group name: lee_xueting https://padlet.com/lee_xueting/16S05GROUP3/wish/104260390 Please write out the names of the members in the group.
1.Benjamin
2.Janice
3.Ning zhuang
4.Lauren]]> 2016-04-04 06:03:43 UTC https://padlet.com/lee_xueting/16S05GROUP3/wish/104260390 With reference to the 2 news articles,  explain the fall in prices of coffee beans in Brazil. lee_xueting https://padlet.com/lee_xueting/16S05GROUP3/wish/104260391  First, the traditional markets for their wares are saturated. Growth in Europe, America and Japan, which between them glug over half the world's coffee, is flat. Second, in places like China, Indonesia and Brazil itself, where coffee is an affordable luxury for the middle class, the market is growing by around 5% a year. But these drinkers are filling their pots with cheaper robusta beans-what Kona Haque of Macquarie dubs the "emerging-market coffee". Strong demand for entry-level coffee-40% of the world's coffee crop is now robusta beans-has enabled Vietnam to go from almost nothing a decade ago to producing 25m bags today (see chart). Worse still for arabica producers, the recession in Europe has hit demand and squeezed profits for roasters. These processors, including big food firms such as Nestlé and Kraft, have responded by blending cheaper robusta with arabica. As a result robusta prices have not fallen as fast as arabica. ]]> 2016-04-04 05:52:46 UTC https://padlet.com/lee_xueting/16S05GROUP3/wish/104260391 News Article lee_xueting https://padlet.com/lee_xueting/16S05GROUP3/wish/104260392 2016-04-04 05:51:11 UTC https://padlet.com/lee_xueting/16S05GROUP3/wish/104260392 News Article 1 lee_xueting https://padlet.com/lee_xueting/16S05GROUP3/wish/104260393 2016-04-04 05:48:50 UTC https://padlet.com/lee_xueting/16S05GROUP3/wish/104260393