Essay on Is Starbucks A World Without Starbucks- Just Take A Moment?
Here’s some background information for you; Starbucks is not doing well financially.
Although one may think the business is thriving while standing in the 11-person line at the library (waiting to order a Salted Caramel Mocha before going upstairs to attempt the latest MEL for the 23rd time), the reality is the complete opposite. Starbucks has fallen short of anticipated profits by at least 8% in the past two years. They have resorted to adding less expensive products to the menu to appeal to those who are not willing to pay the luxury drink prices, and have cut more than 600 jobs. Most people just can’t afford to pay six dollars for a medium coffee with whipped cream and caramel drizzle.
Getting back to the economics, it is commonly know that the fundamental concept of it all is scarcity. Limited goods, or scarcity, create problems which are solved with the economic concepts studied today. (pg9) Another way to look at scarcity is to consider it as a low supply; at the moment the coffee world in general is experiencing a huge hit as far as supply goes. As one could probably imagine,…