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Demand Curve Market Demand Worksheet 1 PDF

1. The document provides demand tables and questions about demand curves and the law of demand. 2. It asks the reader to draw individual and market demand curves based on given demand tables and to calculate total market demand at different price points. 3. The questions examine how changes in price affect quantity demanded and total revenue, and how sellers could alter price to increase sales.

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Sajith Stephen
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© © All Rights Reserved
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824 views5 pages

Demand Curve Market Demand Worksheet 1 PDF

1. The document provides demand tables and questions about demand curves and the law of demand. 2. It asks the reader to draw individual and market demand curves based on given demand tables and to calculate total market demand at different price points. 3. The questions examine how changes in price affect quantity demanded and total revenue, and how sellers could alter price to increase sales.

Uploaded by

Sajith Stephen
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Economics Worksheet Demand

@
1. Draw a demand curve from the following demand table.

Price ($)
37
47
Quantity
20
15
57 10
67 5

2. Draw a market demand curve from the following demand table.

Price ($) D1 D2 D3 Market


Demand
✓
"

'

/
,
37 20 4 8 32
47 15 2 7 24
A

57 10 0 6 16
67 5 0 5 10

You are given the following individual demand tables for comic
books.

¥⑨
Price ($) John Liz Alex Market
Demand
2 4 36 24 66
4 4
'
32 20
6 0 28 16
8 0 24 12
10 0 20 8
12 0 16 4
14 0 12 0
16 0 8 0

&
3. Copy & Complete the market demand table

?E
4. Graph the individual and market demand curves.
a
5. If the current market price is $4, what is total market demand? What .

happens to total market demand if the price rises to $8?


.

④
1
i÷÷÷÷
00
6. State the Law of Demand.

0
7. Betty Ferin, who sells roses in Confederation Square, wants to sell her
entire stock by the end of the day. She begins by charging $5 a
bouquet. As the day advances, she notices that her roses are moving
very slowly. It seems as if she will sell only half her stock by the end
of the day. What should Betty do to rectify the situation?

8. Petit Prince Bookstore sells crayons and colouring books. Guernica Art
Supplies has just offered the bookstore a large quantity of crayons at a
fraction of the regular price. How might the bookstore use its
inexpensive crayons to boost its sales of colouring books?

# 9. Explain the difference between a change in demand and a change in

10.
quantity demanded.

Graph the following demand schedule below: Graph the original


quantity and the new quantity demand curves on the same graph.

Price of Apples ($) Original quantity New quantity demanded


demanded per week per week (thousands)
(thousands)
0.50 100 - 130 e

0.45 110 140


0.40 120 150
0.35 130 160
0.30 140 170
0.25 150 180
0.20 160 190
0.15 170 200
0.10 180 210
0.05 190 a
220 µ

i÷÷£ -

2
changemdi
Happens m and. s e when there
in
is
the
a
shift
demand -

because
→ happens
shiftthe factors of
of
diamond
'

→ Changin .

in
There is a
change
demanded when
Quantity is
# there
in ¥4
a
change
② Demand
Gue

tf ←¥fao
hot

←
→ movement
Pn

v -

o k k 's 's i'o '


n
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n 'm

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