Displaying Increases and Decreases of Demand on a Diagram Movement Along a Demand Curve


A change in the selling price of a good or service will cause a movement along a demand curve showing the change in the quantity demanded of the good or service.


ґ When the price of cakes is €2 the quantity demanded is 80 cakes.


ґ When the price increases to €3 the quantity demanded for cakes would decrease to 60 cakes, shown by the movement along the demand curve.


Shifts of a Demand Curve Rightward shift (Increase in demand for the good or service)


ґ During business class the students organising the bake sale created and printed posters to advertise the bake sale and stuck them up across the school.


ґ This increased the demand for cakes by 20 units at every price level, as more students found out about the bake sale taking place.


DEMAND FOR CAKES AT A BAKE SALE


Price (€)


€1 €2 €3 €4 €5


Quantity Demanded (units) 100


80 60 40 20


NEW Quantity Demanded (units) 120


100 80 60 40


€5 €4 €3 €2 €1


€0 0 20 40 60 80 Quantity Demanded (Units) Leftward shift (decrease in demand for the good or service)


ґ The day before the bake sale takes place, a group of transition year students announces that they have organised an ice cream truck to come in at lunchtime and serve ice creams to raise money for charity.


ґ This decreased the demand for cakes by 20 units at every price level, as some students may buy ice cream as an alternative treat instead of cakes.


DEMAND FOR CAKES AT A BAKE SALE


Price (€)


€1 €2 €3 €4 €5


Quantity Demanded (units) 100


80 60 40 20


NEW Quantity Demanded (units) 80


60 40 20 0


€5 €4 €3 €2 €1


€0 0 20 40 60 80 Quantity Demanded (Units) 327 100 120 140 100 120 140 DEMAND FOR CAKES AT A BAKE SALE


€5 €4 €3 €2 €1


€0 0 20 40 60 80 Quantity Demanded (Units) 100 120 140


Demand Curve


D2 D1


D2


D1


STRAND 3 CHAPTER 29: Demand, supply & market equilibrium


Price €


Price €


Price €


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