The elasticity of the coffee market in the U.S.

 

 

Analyze the elasticity of the coffee market in the U.S. You will need to
consider such points as coffee demand,supply, and price elasticity. Analyze the existing
data about coffee consumption in your region and find out how supply and demand
influence price and quantity.

Sample Solution

The Godfathers of CC are Jock Young and Jeff Ferrell say that under the boredom that modernity has brought us, rebellion and excitement are often seen as a virtue, and society forms political and cultural mass rebellions, as a way to bring excitement to our lives. To understand this boredom caused by modernity, we need to look at Jeff Ferrell’s work about Drift and Vertigo. (Ferrell, 2012) According to Ferrell, Drifters are generally the newer generations, who don’t have a stable position, have part time jobs, don’t have an income as valuable as previous generations and buying a house, having a stable career is not guaranteed even if you finish a college degree. Unemployment and freelancing have become part of a world adrift (Shaffir, Ferrell and Hamm, 1999). The second aspect of Drifters is migration, moving from rural to urban areas, from country to country. Vertigo refers to those who have a stable life, but are surrounded by more and more options, made known to them through media and despite their relative security are more uncertain of their position in society as it is rapidly changing due to globalisation. People who are in vertigo are often scared by the drifters, because drifters appear in their stable world, which makes that society not so stable anymore, but it is abundant, changing, and slowly shifting into a different type of society due to the many different people that reside in multicultural cities, shaped by globalisation and impermanence. (Britton, Ferrell and Websdale, 2000) The average vertigo person would often have conflicting sentiments about the drifters. Vertigo people being faced with a lot of options are faced with the prospects of becoming drifters and facing uncertainty and change. Like the drifters, who often migrate in search of a better life, or change many jobs in search of a better one, they do hope to improve their overall life quality. Vertigo people have a choice to try out other options, do internships abroad, or migrate themselves. The abundance of choice and all the different good and bad outcomes their lives can embrace are what draw the vertigo to become a drifter.

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