Step 1:Use the demand schedule below to create graph of a demand curve. Choose a product or service for the data to represent and include it in the title of your graph. In addition to the title, include labels for price, quantity demanded, and values for price and quantity.

Demand Schedule

Price

Quantity

$50

8000

$75

7000

$100

5000

$125

3000

$150

2000

Step 2:Choose a product that cost about $100. Create a graph.

Go here: https://nces.ed.gov/nceskids/createagraph/

(right click, then "Open Hyperlink")

Choose "Line" Graph, Choose "Data" tab on right

A.Title your graph your product

B.Label X axis Quantity, Y axis Price

C.Make graph from above data, label "Group 1" D

D.Put Price numbers in "Value" column, reverse order ($150, $125, etc.)

E.Put Quantity numbers in "Item Label" column, reverse order 2000, 3000, etc.)

F.Pull "Groups" menu down to "3"

G.For "Group 2" add 20 to each price from "Group 1", Label "Group 2" D1

H.For "Group 3" subtract 20 from each price from "Group 1", Label "Group 3" D2

Choose "Preview Tab" to see graph

You should have three parallel lines, D in the middle, D1 to the right, and D2 to the left

Now right click on graph, "Copy Image", then paste below. Then answer questions on next page (after you read Lesson).

Insert graph here:

Step 3:In a few sentences, explain a situation that could have resulted in the demand increase. Be sure to:

Make your situation specific to the product or service you chose in Step 2.

Use at least one factor from the acronym TRIBE in your explanation.

Step 4:In a few sentences, explain a situation that could have resulted in the demand decrease. Be sure to:

Make your situation specific to the product or service you chose in Step 2.

Use at least one factor from the acronym TRIBE in your explanation.