Price Theory

Introduction

 

  • This webquest is designed to assess the basic understanding of price theory in grade 9.
  • Learners are required to use the demand schedule to draw the demand curve and be able to determine the relationship between price and quantity demanded.
Task
  1. Use the following table to draw the demand Curve.

Price

Quantity Demanded

R5

1

R4

2

R3

3

R2

4

R1

5

 

Process

PROCESS

Follow this Steps to complete the Project

1.       Write the topic on top of the curve and label the axes.

2.       Use the demand schedule to write down the points that show the relationship between quantity demanded and price.

3.       Connect the points to see the slope of the curve

4.       Write D at the start of the curve and D at the end of the curve to show that this is the demand curve.

Evaluation
  • The Task is out of 20 Marks
  • Attempt all the questions
  • Incomplete tasks will not be marked
  • Write neatly and legibly
Conclusion

•       REMEMBER!

•       Consult text-books for additional examples.

•       Compare your methods with those that were discussed in this lesson.

•       Repeat this procedure until you are confident.

•       Do not forget:

Practice makes perfect

Credits
Teacher Page

Mr Ntuthuko Emmanuel Zuma

Student Number: 218181779