Label it supply curve. <>
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Pricing is important because when prices are low enough, consumers are willing to buy. 3 0 obj
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Respond to the following prompts about the reading. 0000001056 00000 n
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Price Quantity 0 Plot your supply curve using the information above on the same chart as you plotted your demand curve. Th d d The demand curve The supply curve Factors causing shifts of the demand curve and shifts of the supply curve. 0000003392 00000 n
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Using the product from your demand worksheet, we will create a supply schedule using the chart below. 0000004445 00000 n
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When prices are high enough, producers are willing to sell. startxref
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Combined together, supply and demand drive the economy by influencing what is produced and by setting prices. stream
1 Supply and Demand Lecture 3 outline (note, this is Chapter 4 in the text). 0000001658 00000 n
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Demand •The quantity demanded (corresponding to a price) of any good is the amount of the good that buyers are willing and able to purchase at this price •Law of demand: Other things being equal, when the price of a good rises, the quantity demanded of the good … !fk̵
d�Y�����C�]�~R��Y���*���d���!ڲ� �. Create a supply graph using the following table of values: PRICE QUANTITY 10 … %����
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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 2. 0000002838 00000 n
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Part V: Read Chapter 5 Sections 3 & 4. Supply and Demand Worksheet NAME: _____ 1. 0000009389 00000 n
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