Coffee Bean Market - Arabica by XueTing Lee https://padlet.com/lee_xueting/16S19GROUP3 en-us 2016-04-06 00:30:19 UTC 2017-03-15 10:44:10 UTC hello@padlet.com Chat Box lee_xueting https://padlet.com/lee_xueting/16S19GROUP3/wish/104258351 Mrs Ting: Can I assume all the members are in? Remember to click on the pencil symbol to write. Have your lecture notes with you so that you can refer.
Keep going and complete by Sat 10am ]]> 2016-04-04 06:39:46 UTC https://padlet.com/lee_xueting/16S19GROUP3/wish/104258351 Conclusion lee_xueting https://padlet.com/lee_xueting/16S19GROUP3/wish/104258352 Hence, because of the increase of supply of coffee beans, the prices of coffee beans fall. 

]]> 2016-04-04 06:38:57 UTC https://padlet.com/lee_xueting/16S19GROUP3/wish/104258352 Body: State the new (final) equilibrium lee_xueting https://padlet.com/lee_xueting/16S19GROUP3/wish/104258353 2016-04-04 06:38:13 UTC https://padlet.com/lee_xueting/16S19GROUP3/wish/104258353 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/16S19GROUP3/wish/104258354 Note: Please draw the diagram manually, take a photo and upload it by clicking the "video icon". 

As the supply increases, there is a downward pressure on farmers to decrease the price of coffee beans. Hence, farmers will start to decrease price of coffee beans. With this, because of the cheaper price of beans, there will be a rise in demand for coffee beans until a new market equilibrium is achieved. 

]]> 2016-04-04 06:35:51 UTC https://padlet.com/lee_xueting/16S19GROUP3/wish/104258354 Body: Decide the direction and magnitude in which the curves shift lee_xueting https://padlet.com/lee_xueting/16S19GROUP3/wish/104258355 Supply curve shifts to the right.
"Growth in Europe, America and Japan, which between them glug over half the world's coffee, is flat." 
Therefore, as the curve shifts to the right, this means that there is an increase in the supply of coffee. ]]> 2016-04-04 06:34:27 UTC https://padlet.com/lee_xueting/16S19GROUP3/wish/104258355 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/16S19GROUP3/wish/104258356 The event causes shifting of supply curve to the right. the factors that make the shift is the number of sellers  and the state of technology. 
As more and more farmers starts to farm coffee beans, this increases the amount of supply of coffee bean. 
As state of technology increases, due to the use of tractors, fertilizers etc, it is easier for farmers to farm better quality and more coffee beans. 

There is an increase in number of sellers and the technology has advanced, creating an easier way to produce more coffee. this would mean that there is an oversupply of coffee.]]> 2016-04-04 06:32:26 UTC https://padlet.com/lee_xueting/16S19GROUP3/wish/104258356 Body: State the initial equilibrium lee_xueting https://padlet.com/lee_xueting/16S19GROUP3/wish/104258357 "COFFEE has many devoted drinkers. Its appealling aroma and caffeinated kick mean that 83% of all American adults drink it, 63% of them on a daily basis"
Equilibirum at first was high, this is because there is a constant high demand for coffee. 

]]> 2016-04-04 06:31:44 UTC https://padlet.com/lee_xueting/16S19GROUP3/wish/104258357 Introduction lee_xueting https://padlet.com/lee_xueting/16S19GROUP3/wish/104258358 Explain market mechanism:
The 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 a 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/16S19GROUP3/wish/104258358 Welcome:) lee_xueting https://padlet.com/lee_xueting/16S19GROUP3/wish/104258359 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/16S19GROUP3/wish/104258359 Topic: Demand, Supply & Market Equilibrium lee_xueting https://padlet.com/lee_xueting/16S19GROUP3/wish/104258360 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/16S19GROUP3/wish/104258360 Group name: lee_xueting https://padlet.com/lee_xueting/16S19GROUP3/wish/104258361 Please write out the names of the members in the group.
1. Jolyn
2. Thara
3. Phyllis
4.Lowell
5.]]> 2016-04-04 06:03:43 UTC https://padlet.com/lee_xueting/16S19GROUP3/wish/104258361 With reference to the 2 news articles,  explain the fall in prices of coffee beans in Brazil. lee_xueting https://padlet.com/lee_xueting/16S19GROUP3/wish/104258362 According to the articles, there are two types of coffee beans;Arabica and Robusta. In Brazil the coffee beans that they produce are mostly Arabica which are slightly more expensive than Robusta. This is because of coffee farmers in Vietnam is producing  coffee that are the cheaper robusta beans in particular, is booming. This hurts producers of arabica in particular as profits of big food companies such as Nestlé and Kraft have taken to blending cheaper robusta beans into their products to maintain their margins. Hence causing the price of the coffee beans produced in Brazil to drop]]> 2016-04-04 05:52:46 UTC https://padlet.com/lee_xueting/16S19GROUP3/wish/104258362 News Article lee_xueting https://padlet.com/lee_xueting/16S19GROUP3/wish/104258363 2016-04-04 05:51:11 UTC https://padlet.com/lee_xueting/16S19GROUP3/wish/104258363 News Article 1 lee_xueting https://padlet.com/lee_xueting/16S19GROUP3/wish/104258364 2016-04-04 05:48:50 UTC https://padlet.com/lee_xueting/16S19GROUP3/wish/104258364