Supply and demand

Page 1 of 3 ZOOM + ak Unit 3-Supply and Demand Part 1 Price Quantity Demanded - N W 1) The above table shows Jeff's demand schedule for coffee per week. Use the table to draw Jeff's demand curve for coffee. Make sure to label the axes Price Quantity Demanded 10 3 6 9 12 2) The above table shows Lorissa's demand schedule for coffee per week. Use the table to draw Lorissa's demand curve for coffee. Make sure to label the axes. Price Quantity Demanded 3) Use the space above the draw the market demand curve based on Jeff and Lorissa' coffee demand 4) List what causes a change in demand and what causes a change in the quantity demanded. Diagrammatically, what is the difference between a "change in demand" and a "change in quantity demanded"?Page of 3 ZOOM + ak LLLL 5) Discuss with your group the how each of the above items on your list in the prior question will impact the market demand for coffee. For example, if coffee and tea are substitutes and the price of tea goes up, then demand for coffee will go up. Illustrate and explain eight examples in the space provided. 6) The "law of demand" refers to the fact that, other things remaining the same, when the price of a good falls a. the demand curve shifts rightward. . the demand curve shifts leftward. c. there is a movement down along the demand curve to a larger quantity demanded. d. there is a movement up along the demand curve to a smaller quantity demanded. 7) The "law of supply" refers to the fact that, other things remaining the same, when the price of a good rises a. the supply curve shifts rightward. o. the supply curve shifts leftward. c. there is a movement down along the supply curve to a larger quantity supplied. d. there is a movement up along the supply curve to a smaller quantity supplied. there is a movement up along the supply curve to a greater quantity supplied. 8) Which of the following would decrease the supply of coffee? a. Harris Teeter opens a coffee shop in every store. b. College students start buying less coffee and more energy drinks as midterms approach. C. The price of coffee beans increases. A new, more efficient and less costly coffee grinder is invented. 9) Each group should member come up with an example of a change in demand story that hopefully relates to something they've observed recently. Draw and explain this example to your group