Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

The demand curve

1,121 views

Published on

AQA, Aquinas, Economics, ECON1, Markets, Market Failure

Published in: Education
  • Be the first to comment

  • Be the first to like this

The demand curve

  1. 1. ECON1 WWW.AQUINASECONOMICSAS.CO.UK @AQUINASECONOMIC The Demand Curve Answer all the questions below 1. Explain what is meant by Demand 2. Explain the term ceteris paribus 3. Draw a demand curve using the following information Price of Peanuts (£) Demand (millions per year) 100 9.5 200 7.5 300 5.0 400 3.5 500 1.0 4. On the graph show what would happen if incomes were to rise and people purchased more peanuts at the same price (Increase demand by 1 million at each price level) 5. A recession hits and incomes fall so people now demand less at each price level. Using the original figures subtract 1 million from each price level and redraw the graph. 6. Ensure all demand curve are labelled appropriately 7. What other goods are likely to affect the demand for car tyres 8. List the factors which can affect the demand for a product 9. Explain the term consumer surplus

×