This chart shows the link between

The chart compares the price of graphic T-shirts to the

quantity demanded.

Demand Schedule

interest in a product and the price a consumer pays.

interest in a product and the price a producer pays.

amount of a product and the price a consumer pays.

amount of a product and the price a producer pays.

Price per

Graphic Tee

$5.00

Quantity

Demanded

50

40

$7.50

$10.00

$12.50

30

20

$15.00

10

This chart shows the link between the price of the graphic T-shirts against the quantity demanded.

Explanation:

The chart can be represented as follows;

Price of the graphic T-shirts Quantity demanded

$5 50

$7.50 40

$10.00 30

$12.50 20

$15.00 10

From the chart above we can see that there is a relationship between the price of the graphic T-shirts and the quantity of the shirts demanded. From the chart it can be seen that an increase in the price of the T-shirt causes a corresponding decrease in the quantity demanded. For example; a price of $5 causes a demand of 50 shirts while a price of $15 causes a demand of 10. From the chart, we can say that increasing the price from $5 to $15 caused a reduction in demand from 50 to 10. This generally means that an increase in price of the shirts make most of customers feel that they cannot afford it or that it has been overpriced, therefor they would rather not buy. This is what makes the demand for the T-shirts to go down with increasing T-shirt prices.

interest in a product and the price a consumer pays.