Eco/365 Consumer Consumption Patterns

In: Business and Management

Submitted By rgncjn4789
Words 862
Pages 4
Coffee Consumption Patterns
Kristi Mouton
ECO365
Monday, May 28, 2012
Professor Lisa Messemer

Coffee Consumption Patterns
People across the globe consume various products on a daily basis. How much and how often goods are consumed can depend on several factors that can build on each other or act independently to influence an individual. It is these causes that set a precedent for what consumers will purchase and the amount of products to be produced by manufacturers and farmers. This is known as economic consumption patterns, and these patterns are thoroughly reviewed by economists. Economists use the results of the evaluation to provide the economy with information regarding the supply of products and services, and the demand for those products and services.
In review of recent consumption patterns, the coffee market has experienced many changes according to an article written by Daniel Harrington. The article was titled “Coffee Prices 2011-2012 – Coffee Price Increase – Coffee Shortage”, which detailed the various aspects that are altering the standard consumption patterns in the economy for coffee.
Coffee has a reliable and growing economic utility. In other words, the level of satisfaction received when people drink coffee has remained elevated over the years. In addition, there are more consumers in our economy that are broadening the types of drinks they ingest with coffee, and the wide variety of coffee drinks that are offered. This has aided in the increase of coffee’s utility in the marketplace.
In recent years, the demand, or desire, for coffee has increased as well as the sustained and overwhelming demand in countries like the United States and Britain. For example, China’s population has traditionally been considered consumers of tea, but in the most recent years this has changed. “The demand for coffee in China has been growing so rapidly…...

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