Demand and Supply Curves
A demand curve is the graphical representation of the relationship between quantities of goods and services that buyers are willing to purchase and the price of those goods and services. A supply curve is the graphical representation of the relationship between quantities of goods and services that sellers are willing to sell and the price of those goods and services.
Step 1- Draw the graph
Step 1 :
Draw a graph. Label the x-axis 'quantity' and the y-axis 'price'
Step 2- Label Graph
Step 2 :
Label the graph. Set the scale and title.
Step 3- Data
Connect the points
Step 3 :
Gather the data needed
Plot points on the graph
Draw one line connecting all of the demand coordinates, and one line connecting all of the supply coordinates.
The point where the two lines intersect is called the equilibrium point. Thats where the demand is at the same point as the supply.