Demand is an element of the market mechanism. It is determined by the purchasing power of the buyer who needs this type of product. The image is produced as a graph of a curve that shows how many products and at what price people are willing to buy. How to build a demand graph?
It is necessary
- - album sheet;
- - pencil;
- - ruler;
- - eraser.
Instructions
Step 1
Collect the data needed to plot the demand graph. These are the prices for a certain product and the number of people willing to pay this cost for it.
Step 2
Draw two straight lines - vertical and horizontal, starting from one point located in the lower left corner of the sheet. Secure the loose ends with arrows that indicate the direction as the straight lines continue. At the top of the vertical, write "price" - the designation of numbers located vertically. On the far right side of the horizontal, write "quantity", i.e. designation of numbers located horizontally and indicating the number of consumers.
Step 3
Divide the straight axis of the graph with equal short line segments. On each "step" of the vertical, put down the price of the product, starting with the minimum at the bottom and ending with the maximum at the top. Place the numbers on the horizontal strokes, based on the analysis of the data obtained. If the number of consumers is measured in units, for example, with expensive goods, then put the numbers in order. If tens, hundreds, etc., then divide the entire number of consumers into equal parts, each of which will correspond to one segment.
Step 4
Draw multiple points on the graph. Each of the points should be located at the intersection of two conventionally drawn lines that go out from the axes of the graph and indicate the required data.
Step 5
Draw a curved line through the formed points - this will be the demand curve, which will clearly demonstrate the dependence of the purchase volume on the price. Those. the lower the price, the more consumers buy. Note that there can be multiple demand curves at the same price. This will depend on the need to purchase this product, as well as on whether there are replacement products similar to this one.
