PlotIT - Build a demand curve
Consider the (imaginary) data in the following table. This shows the annual demand for tennis shoes in three sections of the market. Calculate the total (annual) market demand. Jot this down on a piece of paper. You may like to check your answer.
|Price (£)||Tennis club members ('000s)||Players, but not club members ('000s)||Non-tennis players ('000s)||Total market ('000s)|
From the table, plot each of the figures for total market demand on the following diagram. To do this, click your mouse on the graph axes for the position of each of the plots. When you have done this, the demand curve will automatically be drawn.
You may like to check your answer to see if it matches the correct curve.
Expansion/contraction of demand
If the price of tennis shoes falls, there will be an extension in demand.
Demand for tennis shoes
A higher rate of economic growth will lead to an extension in demand.