Consumption Patterns of Coffee
The news article ‘coffee board sees scope to improve per capita consumption’ was identified from the Business line digital newspaper published on January 21, 2014. The article highlights the consumption patterns of coffee within India and actions being undertaken to improve the consumption. The article reveals that the consumption of coffee has increased despite the rise in price. The articles further show that Indians are increasingly embracing the café culture. Anil Kumar, the president of India Coffee Trust for example, insists that the increased consumption is attributed to the increase in the proliferation of branded café outlets within the country. The outlets have grown by 15 percent (Proquest, 2014). This paper outlines the process of researching the university library to locate this article and explains the advantages of using university library sources for academic work.
In order to search the university library online, one must have a computer and stable internet connection. Within the university website, a link directs one to the students’ portal where you can login and access the university library. One is able to access the website after login in with valid details. In the website, there are options for classroom, library and account. The library portal has a search option where one can access either peer reviewed on non-reviewed scholarly articles. In this portal, you type the keywords for the document you want to search. For example, in this case, I typed ‘consumption patterns of coffee’. The results can be refined by selecting the relevant content type (Proquest, 2014).
In this example, the search was refined under newspaper articles. From the subsequent results, the article ‘coffee board sees scope to improve per capita consumption’ was selected because it was the most recent of the articles. The use of this article is superior to the use of articles from Google and other internet sources because it is easy to get relevant information. The articles within the library are also peer reviewed and increases their reliability for academic use. The information is also classified under various topics such as business, arts among others. Similar documents from earlier publications are also available within the library and this increases the scope of research for the student (University of Buffalo Library, 2014).
The Internet, through various search engines, such as Google provides useful tools of research for students. However, as a free space where anyone can express his or her opinion, some of the information may not be ideal for academic research. The university library, therefore, remains a superior place to find information because it is evaluated according to academic standards (University of Buffalo Library, 2014).
The Law of Demand and Elasticity
According to the law of demand, a rise in the price of a commodity causes a decrease in the quantity consumers are ready to pay for the good and the opposite is true. The demand curve shows the interaction between the cost paid for a commodity and the quantity consumers are willing to acquire at that cost. Movement along a demand curve represents a change in both the cost of purchasing a commodity and the amount of the commodity demanded (Nicholson & Snyder, 2012).
A demand curve shift however happens when the cost paid to acquire a commodity is constant despite a change in demand. In summary, a movement arises when a change in demand is caused by a change in price and a shift occurs when a change in demand is caused by other factors other than the price. Shifts are caused by the lack of substitutes for example if beer becomes the only alcoholic drink available, for the same price there would be an increase in demand (Nicholson & Snyder, 2012).
Elasticity is the ratio of the percentage change in
quantity demanded to the percentage change in price. The availability of substitutes
affects price elasticity of demand in that the more substitutes are available
the more the price elasticity of demand. Tea, for example, is a substitute for
coffee and if the price of coffee increases, people will resort to taking tea,
meaning that the change in price cases has a significant change in demand (Nicholson
& Snyder, 2012).
Nicholson, W., & Snyder, C. (2012). Microeconomic theory: Basic principles and extensions. Mason, Ohio: South-Western/Cengage Learning.
Proquest. (2014, Jan 21). Coffee Board sees scope to improve per capita consumption. Retrieved Mar 20, 2014, from Apollo library: http://search.proquest.com.ezproxy.apollolibrary.com/docview/1490825449
University of Buffalo Libraries (2014, Mar 20). Finding and Evaluating Research Materials. Retrieved Mar 20, 2014, from University at Buffalo: