6Individual Demand Schedule (continued) What can we learn from an individual demand schedule?How much of an item one person is willing and able to by at a specific priceOn the previous slide I am not willing nor able to buy any DVDs at $30But, I am willing and able to buy 7 DVDs if they are $5 each
7Market Demand Schedule Definition: a listing of how much of a good or service all consumers are willing to purchase at each priceThis shows the demand of all people in a market who are willing and able to buy a good/service
8Market Demand Schedule (continued) Purpose: Business owners need a market demand schedule in order to price a good to gain the maximum number of sales
173. Does quantity demanded always fall as price rises? WHY? 4. List 2-3 goods or services that you believe would remain in demand even if the price rose sharply.
18Create a demand schedule 5. Pizza King makes the best pizza in town. Create a demand schedule (below) showing how many pizza per month you would buy at the following prices: $25, $20, $15, $10, and $5. Make sure to label the schedule accurately.
196. Graph your demand curve for pizza 6. Graph your demand curve for pizza. Make sure to label your individual demand curve accurately.