Demand Practice Problem Set
Work on these. If you have questions bring to class & use the discussion board on Vista to chat with other class members.
What is Demand?
What does the law of demand state?
What are demand shifters?
What causes a change in quantity demanded?
Supply is held Constant for all of these questions!
Adam received a pay raise this week and he decided to purchase more steak than hamburgers for dinner. What type of good does the steak represent.
Citizens of Jamaica are expecting a category 10 hurricane in two months. What will happen to their demand for goods and services? Show graphically.
As of late the price of hamburger meat has gone up. What will happen to the demand for hamburger buns? What’s their relationship? Show this graphically.
The prices of cookies are going up this week, what will happen to the demand for potato chips? What’s their relationship? Show this graphically.
If the price of bananas goes down, what will happen to demand? Why?
A new manufacturing company has arrived to Statesboro, and has doubled the population. What will happen to the demand for goods and services in the city? Show graphically.
Troy's income has tripled in the last month. Now when he goes grocery shopping he is buying less roman noodles for supper. What happened to his demand curve? Secondly, what type of good is the roman noodles?
Draw the Demand Graph using the data below:
Price Quantity
$0.00 1000
$5.00 800
$10.00 600
$15.00 400
$20.00 200
$25.00 0