Instructions for a Simple Demand Curve Graph for Smartphones: Axes Labeling: Label the vertical axis as Price
Question:
Instructions for a Simple Demand Curve Graph for Smartphones:
Axes Labeling:
Label the vertical axis as "Price" (P) Label the horizontal axis as "Quantity Demanded" (Q) Plotting the Curve:
Draw a downward sloping curve from the top-left to the bottom-right of the graph. This represents the negative relationship between the price and quantity demanded, suggesting that as the price increases, the quantity demanded decreases (and vice versa). Annotation:
If you want to show the effect of factors on the demand curve: Draw a second curve to the right of the first one to represent an increase in demand (due to positive factors like successful marketing campaigns or groundbreaking technological innovations). Draw a second curve to the left of the first one to represent a decrease in demand (maybe due to economic downturns). Label the original curve D1, the increased demand curve as D2, and the decreased demand curve as D3. Additional Notes:
You can add notes or arrows pointing to shifts in the demand curve with brief explanations like "Tech Innovations" or "Economic Downturn" to indicate reasons for shifts in demand.