Instructions:
⮚ Please write your Full name in the Assignment.
⮚ Marks for each part are given.
⮚ The deadline to submit the Assignment is November 16, 2025, 2025 11:00pm.
⮚ Please do not change the format of the Word Document
⮚ Please save the document as (Your name_Assignment 1_Module 13_DLSCM_College)
Assignment – Demand, Supply and Equilibrium (40 Marks)
, Part A: Demand (10 Marks)
Demand Schedule
Price Quantity Demanded
10 40
9 50
8 60
7 70
6 80
1.Using the demand schedule provided, plot the demand curve and describe its shape.
When the above points are plotted on a graph (Price on vertical axis, Quantity on horizontal
axis), the points are (40,10), (50,9), (60,8), (70,7), and (80,6).
The resulting demand curve is a straight line sloping downward from left to right.
Shape: Linear and downward-sloping.
2.Explain why the demand curve slopes downward using the law of demand.
According to the law of demand, ceteris paribus, a fall in the price of a good leads to an
increase in quantity demanded, and a rise in price leads to a decrease in quantity
demanded. This inverse relationship produces the downward-sloping demand curve. The
main reasons are:
Income effect: Lower price increases consumers’ purchasing power (real income),
enabling them to buy more.
⮚ Please write your Full name in the Assignment.
⮚ Marks for each part are given.
⮚ The deadline to submit the Assignment is November 16, 2025, 2025 11:00pm.
⮚ Please do not change the format of the Word Document
⮚ Please save the document as (Your name_Assignment 1_Module 13_DLSCM_College)
Assignment – Demand, Supply and Equilibrium (40 Marks)
, Part A: Demand (10 Marks)
Demand Schedule
Price Quantity Demanded
10 40
9 50
8 60
7 70
6 80
1.Using the demand schedule provided, plot the demand curve and describe its shape.
When the above points are plotted on a graph (Price on vertical axis, Quantity on horizontal
axis), the points are (40,10), (50,9), (60,8), (70,7), and (80,6).
The resulting demand curve is a straight line sloping downward from left to right.
Shape: Linear and downward-sloping.
2.Explain why the demand curve slopes downward using the law of demand.
According to the law of demand, ceteris paribus, a fall in the price of a good leads to an
increase in quantity demanded, and a rise in price leads to a decrease in quantity
demanded. This inverse relationship produces the downward-sloping demand curve. The
main reasons are:
Income effect: Lower price increases consumers’ purchasing power (real income),
enabling them to buy more.
