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Demand
Worksheet
NAME: ______________________
1. Create a demand graph using the following
table of values:
|
PRICE
|
QUANTITY
|
|
10
|
500
|
|
20
|
450
|
|
30
|
400
|
|
40
|
350
|
|
50
|
300
|
|
60
|
250
|
|
70
|
200
|
|
Determinant
of demand
|
Demand increases
or decreases?
|
Explanation
|
|
Population increases
|
|
|
|
Population decreases
|
|
|
|
Increase in most peoples’ income
|
|
|
|
Decrease in most peoples’ income
|
|
|
|
Price of substitute increases
|
|
|
|
Price of substitute decreases
|
|
|
|
Price of complementary good increases
|
|
|
|
Price of complimentary good decreases
|
|
|
|
Product becomes a popular fad (change in taste of
buyers)
|
|
|
|
Product now out of fashion (change in taste of
buyers)
|
|
|
|
There is an expectation that the price of the
product will soon fall
|
|
|
|
There is a fear that the economy will go into a
recession where many firms will fail and unemployment will increase
|
|
|
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