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Mr. Reisbord Economics: Demand Worksheet! Graphing the Demand Curve. demand curve in the chart below. Use the data presented in the Demand Schedule for CDs Name________________________Period________________________ to graph the
! Demand Schedule For CDs Price per CD (in dollars) Demanded Quantity
2019 (in millions) (^100200) (^181716 ) (^151413 )
1211 1000900 DEMAND CURVE*
20 per CD dollars^ Price (in )^191817161514 (^131211) (^100 200 300) Quantity Demanded (^400) (millions) 500 600 700 800 900 1000
Movement Along The Demand Curve. Answer the following questions based on the demand curve you have graphed:! 1. 2. When the price of a CD is $20, what is the quantity demanded by consumers?When the price of a CD is $15, what is the quantity demanded by consumers?
!^ 3.^ 4.^ As the price of a CD decreases, does the quantity of CDs demanded increase or decrease?As the price of a CD increases, does the quantity of CDs demanded increase or decrease?
!^ •^ Using the data presented in the Demand Schedule for CDs, graph the demand curves D1^ and D2 in the chart below.
Shifts in the Demand Curve. In recent years, sales of music CDs have decreased as many consumers have elected to download individual tracks of music directly into their playing devices. Of course, the cost to download a single track is less than the cost of a CD. The demand for music CDs is shown in the demand schedule as D1.
! Imagine that as a result of pressure from the music industry, music downloads are outlawed, and the only way to purchase music is to buy a music CD.
Demand for CDs increases and is now shown in the demand schedule as D2.
Price per CD^ Demand Schedule for CDs Demanded^ Quantity (D1) Demanded^ Quantity (D2) (^201918 100200300 ) (^171615 400500600 ) 141312 700800900 10001125875 11 1000 1250 Pric per CD e
(^201918) (^171615) (^141312) (^11100 200 300 400 500 600 700 800 900 1000 1100 1200 )
! Movement along the curve or a shift in the demand curve? indicating whether each scenario results in a change in the quantity demanded (movement along the demand curve), or a change in demand (shift in the demand curve). If there is a shift in the Complete the table below by
demand curve, indicate whether the curve shifts up or down.!
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 a fear that the economy will go into a recession where many firms will fail and unemployment will increase
- There is an outbreak of the flu and sales of latex gloves skyrocket. Scenario^ Movement or shift up or^ shift down?
- A nail salon cuts the price it charges for manicures and more clients come. 3. A chain of department stores extends the hours that stores will remain open and total sales for the chain has increased. 4. The US Census Bureau has announced that there is baby boom in the United States and sales of baby carriages have increased.
- John’s Bicycle shop increases the prices of bicycles and sales decrease. 6. The City of New York has cut the number of city employees by 10% and sales of big screen televisions falls.
