Coffee Bean Market - Arabica by XueTing Lee https://padlet.com/lee_xueting/16S13GROUP3 en-us 2016-04-06 02:43:43 UTC 2023-03-04 11:57:28 UTC hello@padlet.com Chat Box lee_xueting https://padlet.com/lee_xueting/16S13GROUP3/wish/104270904 Mr Wong: pls start filling in the segments after u have read the articles
Someone can do the assigning of work to each person

Shaine: Hello friends, let's start
Angeline: Yep yep
Jocelyn: Mr Wong, are we supposed to draw 2 graphs? like one for Arabica and another one for robusta? or do we just draw one for coffee beans in general?]]> 2016-04-04 06:39:46 UTC https://padlet.com/lee_xueting/16S13GROUP3/wish/104270904 Conclusion lee_xueting https://padlet.com/lee_xueting/16S13GROUP3/wish/104270905 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 indeterminate as it depends on the relative extent of changes in demand and supply.
In this case, there is a greater fall in demand than the increase in supply. Hence, the equilibrium quantity will fall.]]> 2016-04-04 06:38:57 UTC https://padlet.com/lee_xueting/16S13GROUP3/wish/104270905 Body: State the new (final) equilibrium lee_xueting https://padlet.com/lee_xueting/16S13GROUP3/wish/104270906 The new curve is D2 and S2 with the new equilibrium is at E2 with the new price and quantity at P2 and Q2 respectively.]]> 2016-04-04 06:38:13 UTC https://padlet.com/lee_xueting/16S13GROUP3/wish/104270906 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/16S13GROUP3/wish/104270907  ]]> 2016-04-04 06:35:51 UTC https://padlet.com/lee_xueting/16S13GROUP3/wish/104270907 Body: Decide the direction and magnitude in which the curves shift lee_xueting https://padlet.com/lee_xueting/16S13GROUP3/wish/104270908 There is a leftward shift in DD from D1 to D2 and a rightward shift in SS from S1 to S2. At original price P1, the quantity supplied is more than the quantity demanded. This causes a surplus, leading to a downward pressure on price.  As the price decreases, the quantity demanded would rise and the quantity supplied would fall until the new equilibrium is met at E2. This is because suppliers are profit motivated and would supply less if the demand decreases.]]> 2016-04-04 06:34:27 UTC https://padlet.com/lee_xueting/16S13GROUP3/wish/104270908 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/16S13GROUP3/wish/104270910 There is a decrease in demand of Arabica coffee bean due to the price and availability of available goods such as Robusta that satisfy the needs and desires of the coffee drinkers. As the price of Robusta beans are lower, it is a cheaper alternative and consumers will switch away from Arabica to buying Robusta. This causes the demand of Arabica to fall, thus shifting the demand curve to the left.

There is an increase in supply of Arabica beans due to good weather since coffee beans are agricultural good and are susceptible to changes in weather. Good weather increases crop yield, thus increasing the supply of Arabica beans]]> 2016-04-04 06:32:26 UTC https://padlet.com/lee_xueting/16S13GROUP3/wish/104270910 Body: State the initial equilibrium lee_xueting https://padlet.com/lee_xueting/16S13GROUP3/wish/104270911 The original DD and SS curves are at D1 and S1 where the equilibrium is at E1 and equilibrium price and quantity is at P1 and Q1 respectively.]]> 2016-04-04 06:31:44 UTC https://padlet.com/lee_xueting/16S13GROUP3/wish/104270911 Introduction lee_xueting https://padlet.com/lee_xueting/16S13GROUP3/wish/104270912 Explain market mechanism: The market mechanism works through 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 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/16S13GROUP3/wish/104270912 Welcome:) lee_xueting https://padlet.com/lee_xueting/16S13GROUP3/wish/104270913 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/16S13GROUP3/wish/104270913 Topic: Demand, Supply & Market Equilibrium lee_xueting https://padlet.com/lee_xueting/16S13GROUP3/wish/104270914 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/16S13GROUP3/wish/104270914 Group name: lee_xueting https://padlet.com/lee_xueting/16S13GROUP3/wish/104270915 Please write out the names of the members in the group.
1. Jocelyn 
2. Angeline
3. Shaine
4. Manvinder]]> 2016-04-04 06:03:43 UTC https://padlet.com/lee_xueting/16S13GROUP3/wish/104270915 With reference to the 2 news articles,  explain the fall in prices of coffee beans in Brazil. lee_xueting https://padlet.com/lee_xueting/16S13GROUP3/wish/104270916 2016-04-04 05:52:46 UTC https://padlet.com/lee_xueting/16S13GROUP3/wish/104270916 News Article 2 lee_xueting https://padlet.com/lee_xueting/16S13GROUP3/wish/104270917 2016-04-04 05:51:11 UTC https://padlet.com/lee_xueting/16S13GROUP3/wish/104270917 News Article 1 lee_xueting https://padlet.com/lee_xueting/16S13GROUP3/wish/104270918 2016-04-04 05:48:50 UTC https://padlet.com/lee_xueting/16S13GROUP3/wish/104270918