Coffee Bean Market - Arabica by XueTing Lee https://padlet.com/lee_xueting/16S22GROUP5 en-us 2016-04-06 00:37:00 UTC 2023-02-16 08:04:31 UTC hello@padlet.com Chat Box lee_xueting https://padlet.com/lee_xueting/16S22GROUP5/wish/104259005 Ms Lee: Hi

Mr Wong: Hi all
Start filling in the different segments]]> 2016-04-04 06:39:46 UTC https://padlet.com/lee_xueting/16S22GROUP5/wish/104259005 Conclusion lee_xueting https://padlet.com/lee_xueting/16S22GROUP5/wish/104259006 The concurrent fall in demand and increase in supply would reinforce each other to cause a sharper fall in equilibrium price. However the effect on equilibrium quantity is inderterminate as it depends on the relative extent of changes in demand and supply. If the fall in demand is greater than the rise in supply, equilibrium quantity falls. Hence due more factors causing demand to decrease, the price of brazilian coffee decreases.]]> 2016-04-04 06:38:57 UTC https://padlet.com/lee_xueting/16S22GROUP5/wish/104259006 Body: State the new (final) equilibrium lee_xueting https://padlet.com/lee_xueting/16S22GROUP5/wish/104259007 As the price decreases, the quantity demanded would rise and quantity supplied would fall until a new equilibrium is reached at E2]]> 2016-04-04 06:38:13 UTC https://padlet.com/lee_xueting/16S22GROUP5/wish/104259007 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/16S22GROUP5/wish/104259008 There is a leftward shift in demand curve from D1 to D2, and a rightward shift in supply curve from S1 to S2. At the original price P1, the quantity supplied is less than quantity demanded, A surplus occurs, causing a downward pressure on price. ]]> 2016-04-04 06:35:51 UTC https://padlet.com/lee_xueting/16S22GROUP5/wish/104259008 Body: Decide the direction and magnitude in which the curves shift lee_xueting https://padlet.com/lee_xueting/16S22GROUP5/wish/104259009 Demand curve shifts to the left.
Supply curve shifts to the right]]> 2016-04-04 06:34:27 UTC https://padlet.com/lee_xueting/16S22GROUP5/wish/104259009 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/16S22GROUP5/wish/104259010 Demand 1) The price of related goods (substitutes) causes the demand curve to shift to the left. Due to the recession in Europe, coffee manufacturers have found cheaper alternatives to produce their coffee, hence decreasing their prices of coffee as well. People would hence go for the cheaper alternative of European coffee rather than Brazillan coffee. Demand for brazilian coffee decreases, demand curve shifts left ceteris paribus.

--> leave the effect on the price for after the MAP
--> for this part, just state dd for brazilian coffee decreases, dd curve shifts left, cp 

Demand 2)  A recession is a slowdown or massive contraction in economic activities. During a recession people may lose their jobs, as a result purchasing power falls due to a drop in income. Therefore, the demand curve shifts to the left, Ceteris Paribus.

Supply 1) The increase in use of substitutes has caused the supply curve to shift to the right. Due to the recession, coffee brands have begun to use cheaper coffee beans in their coffee in order to maintain profit margins. This drives the huge production of robusta beans in Vietnam, which produces 25 million bags annually. Demand for cheaper coffee beans increases, supply curve shifts right, ceteris paribus. 
--> Quote from article]]> 2016-04-04 06:32:26 UTC https://padlet.com/lee_xueting/16S22GROUP5/wish/104259010 Body: State the initial equilibrium lee_xueting https://padlet.com/lee_xueting/16S22GROUP5/wish/104259011 The original Demand and supply curve are D1 AND S1 where equilibrium is at E1 and equilibrium price and quantity is P1 and Q1 respectively]]> 2016-04-04 06:31:44 UTC https://padlet.com/lee_xueting/16S22GROUP5/wish/104259011 Introduction lee_xueting https://padlet.com/lee_xueting/16S22GROUP5/wish/104259012 Explain market mechanism: means by which the forces of demand and supply determine prices and quantities of goods and services offered for sale in a free market.




Define demand: The amount of a good that consumers are willing and able to pay purchase in a given period of time at various places

Define supply: The amount of a good that producers are willing to offer for sale in a given period of time at various places




]]> 2016-04-04 06:30:11 UTC https://padlet.com/lee_xueting/16S22GROUP5/wish/104259012 Welcome:) lee_xueting https://padlet.com/lee_xueting/16S22GROUP5/wish/104259013 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/16S22GROUP5/wish/104259013 Topic: Demand, Supply & Market Equilibrium lee_xueting https://padlet.com/lee_xueting/16S22GROUP5/wish/104259014 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/16S22GROUP5/wish/104259014 Group name: lee_xueting https://padlet.com/lee_xueting/16S22GROUP5/wish/104259015 Please write out the names of the members in the group.
1. Bryan Mok
2. Saheb
3. Jekkee
4. Nadya
5. Jin Chow]]> 2016-04-04 06:03:43 UTC https://padlet.com/lee_xueting/16S22GROUP5/wish/104259015 With reference to the 2 news articles,  explain the fall in prices of coffee beans in Brazil. lee_xueting https://padlet.com/lee_xueting/16S22GROUP5/wish/104259016 the price of related good affected the fall in prices of coffee beans in brazil. robusta coffee is cheaper and is used more by countries having recession like in europe which would mean less of a buying power. this would mean that people will switch from the more expensive arabica coffee to the cheaper and more economical robusta coffee. thus due to a lower price of robusta beans there would be a greater demand for them and a lower demand for arabica coffee resulting in a surplus and a downward pressure on the price of the arabica coffee leading to a fall in prices of coffee beans

Mr Wong: --> avail of subs is not a factor that affects demand, the correct factor to use here is price of related goods (substitutes)

Mr Wong: place this below]]> 2016-04-04 05:52:46 UTC https://padlet.com/lee_xueting/16S22GROUP5/wish/104259016 News Article lee_xueting https://padlet.com/lee_xueting/16S22GROUP5/wish/104259017 2016-04-04 05:51:11 UTC https://padlet.com/lee_xueting/16S22GROUP5/wish/104259017 News Article 1 lee_xueting https://padlet.com/lee_xueting/16S22GROUP5/wish/104259018 2016-04-04 05:48:50 UTC https://padlet.com/lee_xueting/16S22GROUP5/wish/104259018