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Essay text:
In the world of coffee there are two types of beans; Arabica and Robusto. Robusto is a cheap and plentiful coffee bean and not great tasting. However, Arabica beans are more expensive, harder to grow and great tasting alternatives to the Robusto beans. The predominant coffee companies used the more readily available Robusto because of the endless supply. However, Starbuck's felt the need to supply the Arabica in order to satisfy the demand to its customers for better tasting coffee.
"This is where the lesson in the theory of supply and demand comes into play. Basic economic theory states that prices are determined by how much of something is available, and how badly people want or need it...
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