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    Nur Atikah
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    This document summarizes monthly rubber production, average price, and exports in Malaysia from March to December 2016. Production increased over the period from around 57,000 tonnes to around 70,000 tonnes. Average price generally increased from around 398 sen/kg to around 616 sen/kg. Exports also increased over the period from around 53,000 tonnes to around 61,000 tonnes, even as prices rose. The graph shows that higher prices led to greater production according to the law of supply, but exports continued to rise with price against the law of demand, possibly due to increasing demand from China for rubber as a raw material.

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    This document summarizes monthly rubber production, average price, and exports in Malaysia from March to December 2016. Production increased over the period from around 57,000 tonnes to around 70,000 tonnes. Average price generally increased from around 398 sen/kg to around 616 sen/kg. Exports also increased over the period from around 53,000 tonnes to around 61,000 tonnes, even as prices rose. The graph shows that higher prices led to greater production according to the law of supply, but exports continued to rise with price against the law of demand, possibly due to increasing demand from China for rubber as a raw material.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    15 views4 pages

    Assignment 1

    Uploaded by

    Nur Atikah
    This document summarizes monthly rubber production, average price, and exports in Malaysia from March to December 2016. Production increased over the period from around 57,000 tonnes to around 70,000 tonnes. Average price generally increased from around 398 sen/kg to around 616 sen/kg. Exports also increased over the period from around 53,000 tonnes to around 61,000 tonnes, even as prices rose. The graph shows that higher prices led to greater production according to the law of supply, but exports continued to rise with price against the law of demand, possibly due to increasing demand from China for rubber as a raw material.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 4

    PRINCIPLE OF ECONOMICS

    Name : Nur Atikah binti Yaakob


    ID number : 62214217149
    Group : IB52
    Lecture’s Name : Dr. Barudin Muhammad
    MONTHLY RUBBER STATISTIC MALAYSIA

    MONTHY PRODUCTION AVERAGE PRICE EXPORTS


    (2016) (TONNES) (SEN/KG) (TONNES)
    March 57697 398.38 53587
    April 41786 473.14 56204
    May 33565 485.00 51146
    June 47188 443.64 51328
    July 45279 438.03 48578
    August 59520 438.98 46548
    September 60058 454.05 55036
    October 62010 487.70 59379
    November 66293 527.19 54624
    December 69727 615.88 61380
    MONTHLY RUBBER STATISTIC MALAYSIA
    PRICE
    700.00

    600.00

    500.00

    400.00 PRODUCTION

    EXPORTS
    300.00

    200.00

    100.00

    0.00 QUANTITY
    30000 35000 40000 45000 50000 55000 60000 65000 70000 75000

    The graph shows the demand and supply for rubber in Malaysia from March to December 2016. The
    trend line on the graph shows that the higher the price of rubber lead to the greater quantity of supply
    (production). The trend line shows that the demand of rubber did not follow the law of demand which in
    this graph shows that the higher the price, the more demand (export). The demand of rubber from
    other countries is higher although there is increasing of price. The data only half of year 2016 and maybe
    the demand for rubber at that time increase because of it usage. The main destination of rubber export
    was China. China needs more rubber as raw material for their product production.

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