Question

Create your own demand curve for a product you buy on a regular basis.

Clearly label your graph and include a demand schedule.

Answer 1

Demand curve shows an inverse relation between price and quantity demanded. thus demand curve is downward sloped showing at high prices people consume less of the commodity and at low prices people consume more of it, When we draw demand curve price is measured along y-axis and quantity is measured along x-axis. Horizontal intercept of a Demand schedule shows quantity of apple consumed when price is zero,. Similarly vertical intercept measures quantity of apple purchased (ie zero) when price is high

Demand schedule is the table which shows quantity of the commodity consumer purchases at different prices. In the demand schedule shown below, as price of apple increase people purchase more and more amount of apple.

Price of apple (per kg)	Quantity of apple (kg)
0	100
1	80
2	70
3	60
4	50
5	40
6	30
7	20
8	10
9	5
10	0