Coffee Bean Market - Arabica by XueTing Lee https://padlet.com/lee_xueting/16A04GROUP1 en-us 2016-04-06 00:09:58 UTC 2023-05-19 12:50:24 UTC hello@padlet.com Chat Box lee_xueting https://padlet.com/lee_xueting/16A04GROUP1/wish/104256149 Mrs Ting: How is it so far?]]> 2016-04-04 06:39:46 UTC https://padlet.com/lee_xueting/16A04GROUP1/wish/104256149 Conclusion lee_xueting https://padlet.com/lee_xueting/16A04GROUP1/wish/104256150 In conclusion, there will be an increase in the price of the coffee beans and an increase in the quantity demanded for the coffee beans, whereas there is a decrease in the supply supplied given the high demand for coffee beans and other conditions. - jx]]> 2016-04-04 06:38:57 UTC https://padlet.com/lee_xueting/16A04GROUP1/wish/104256150 Body: State the new (final) equilibrium lee_xueting https://padlet.com/lee_xueting/16A04GROUP1/wish/104256151 With the rightward shift of the demand curve and the leftward shift of the supply curve, the point of intersection between demand curve 2 and supply curve 2 is the new equilibrium. As indicated in the graph, demand curve D2 intersects supply curve S2, making the point of intersection E2, causing an increase in price and quantity demanded, hence an increase in equilibrium. - Wen Wei]]> 2016-04-04 06:38:13 UTC https://padlet.com/lee_xueting/16A04GROUP1/wish/104256151 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/16A04GROUP1/wish/104256152 Note: Please draw the diagram manually, take a photo and upload it by clicking the "video icon". 
When the demand curve shifts to the right, at the initial equilibrium price 0P1, the simultaneous increase in demand and reduction in supply creates a shortage of quantity supplied and quantity demanded. This exerts upward pressure on price; quantity demanded falls while quantity supplied rises and the shortage gradually decreases. At the new equilibrium price P2 where the new supply curve intersects the new demand curve, the new equilibrium quantity at Q2 is lower than the initial equilibrium quantity Q1. -Wen Wei


]]> 2016-04-04 06:35:51 UTC https://padlet.com/lee_xueting/16A04GROUP1/wish/104256152 Body: Decide the direction and magnitude in which the curves shift lee_xueting https://padlet.com/lee_xueting/16A04GROUP1/wish/104256153 Demand curve shifts to the right - jx
The magnitude of the increase in demand is smaller than the magnitude of the decrease in supply -Wen Wei]]> 2016-04-04 06:34:27 UTC https://padlet.com/lee_xueting/16A04GROUP1/wish/104256153 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/16A04GROUP1/wish/104256154 Demand curve shifts to the right - jx

"That region has been hit by leaf rust, a fungal disease, which could destroy 30% of the crop this year. Cutting back plants to deal with it is set to hit production next year, too." - Supply shock, supply factor - Zach

"Wages in Brazil and Colombia are rising fast and production costs are above prices" - Income, demand factor: Income of consumers increases > Buying power of consumers increases > Because coffee is a normal good > Demand increases - Zach]]> 2016-04-04 06:32:26 UTC https://padlet.com/lee_xueting/16A04GROUP1/wish/104256154 Body: State the initial equilibrium lee_xueting https://padlet.com/lee_xueting/16A04GROUP1/wish/104256155 On the demand/supply graph with an equilibrium, there will be both a demand and supply curve. The point of intersection between the demand and supply curves is the point of equilibrium. The original demand and supply curves are D1 and S1, with the equilibrium E1 while price and quantity are indicated by P1 and Q1 on the Y and X axes respectively. - Zach]]> 2016-04-04 06:31:44 UTC https://padlet.com/lee_xueting/16A04GROUP1/wish/104256155 Introduction lee_xueting https://padlet.com/lee_xueting/16A04GROUP1/wish/104256156 Explain market mechanism: Market mechanism operates through interaction between market forces of demand and supply to determine the equilibrium output. When there is a state of balance between forces demand and supply, an equilibrium is achieved. (RISHI)

Define demand: It is the amount of a good that customers are willing and able to purchase within a given period of time at various prices.  (RISHI)

Define supply: It is the amount of a good that producers are willing and able to offer for sale within a given period of time at various prices. (RISHI)


]]> 2016-04-04 06:30:11 UTC https://padlet.com/lee_xueting/16A04GROUP1/wish/104256156 Welcome:) lee_xueting https://padlet.com/lee_xueting/16A04GROUP1/wish/104256157 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/16A04GROUP1/wish/104256157 Topic: Demand, Supply & Market Equilibrium lee_xueting https://padlet.com/lee_xueting/16A04GROUP1/wish/104256158 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/16A04GROUP1/wish/104256158 Group name: lee_xueting https://padlet.com/lee_xueting/16A04GROUP1/wish/104256159 Please write out the names of the members in the group.
1. Wen Wei
2. Natalie
3. Rishika
4. Jia Xuan
5. Zachary]]> 2016-04-04 06:03:43 UTC https://padlet.com/lee_xueting/16A04GROUP1/wish/104256159 With reference to the 2 news articles,  explain the fall in prices of coffee beans in Brazil. lee_xueting https://padlet.com/lee_xueting/16A04GROUP1/wish/104256160 2016-04-04 05:52:46 UTC https://padlet.com/lee_xueting/16A04GROUP1/wish/104256160 News Article lee_xueting https://padlet.com/lee_xueting/16A04GROUP1/wish/104256161 2016-04-04 05:51:11 UTC https://padlet.com/lee_xueting/16A04GROUP1/wish/104256161 News Article 1 lee_xueting https://padlet.com/lee_xueting/16A04GROUP1/wish/104256162 2016-04-04 05:48:50 UTC https://padlet.com/lee_xueting/16A04GROUP1/wish/104256162