1) Follow the directions below in order to research and create y0ur own supply and demand curve.

Q1. Select a product or service you are familiar with. Make sure it is something you can explain and are able to "sell" to someone else if needed.

Q2. Survey at least ten people by explaining the product of service completely using either physical examples or pictures of your product or service. Then question them about the amount they would be willing to pay for that product or service. Be sure your costs are reasonable. Don't ask if someone is will to buy a Rolex watch for $10.

Q3. Record your findings on a chart like the one below for each person.

Sample of Supply/Demand Curve Price Quantity