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Economics of Coffie Essay

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Consumption Patterns of Coffee

Coffee has been around for centuries and has been consumed worldwide. In the beginning coffee was more of like tea and its leaves were soaked in hot water and then drank similar to making a cup of tea with a tea bag. When it reached the Arab world it was then transformed into dried seeds and then steeped in hot water which is how it is consumed now.

The first coffee house was started in Istanbul and then became fashionably popular in Venice, then London and Oxford before arriving in Paris and then in New England. The United States is the global leader in consumption of coffee at 25% worldwide and of course Europe follows right behind. It seems as though coffee has just become widely popular because of the different flavors and tastes that are being offered which has intrigued people over the years.

Countries that are not able to grow coffee are also consuming it and making in high in demand. Japan is the third largest coffee importer above Italy and France. Brazil is the largest coffee producer and the second largest consumer.   “Coffee has long been traded like corn or soy beans; now, in some cases, it’s treated with the same care and respect as grapes harvested for wine.”(Niemann,Christopher)

Coffee as a seed or leaf not in terms of any brands or anything is elastic because coffee cannot be replicated or replaced by anything else. A certain brand of coffee is inelastic because then you can just buy another brand. As a consumer of coffee I do not think people put much thought into price changing in terms of coffee. If a particular brand goes up then they would probably just buy a similar brand which is cheaper and that would be that.

References

Niemann,Christopher. “Coffee”. Retrieved on January 8, 2012.

http://topics.nytimes.com/top/reference/timestopics/subjects/c/coffee/index.html

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Economics of Coffie. Anti Essays. Retrieved December 13, 2018, from the World Wide Web: http://teachingsail.com/free-essays/Economics-Of-Coffie-410323.html


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