Shaia Vincent
AC2103650
C13 Microeconomics
Module 2 Assignment
CerealPrivate Consumption – Supply / Demand
List three (3) goods or services that you buy frequently. Fill in the following details for each goods or
service in the provided table:
A. The current price and the quantity that you normally buy.
B. A higher price than the current price and the quantity that you would buy at that price.
C. A lower price than the current price and the quantity that you would buy at that price.
Item 1 cereal
Price Quantity Bought
$10 1 small box
$30 2 medium boxes
$50 3 large boxes
Item 2 rice
Price Quantity Bought
$15 1 small packet
$40 2 medium packets
$60 4 large packets
Item 3 chicken
Price Quantity Bought
$30 1 parcel
$45 2 parcels
$60 4 parcels
Analysis
Now, consider the price, and the quantity that you are willing to purchase at that price and answer the
following questions.
1. How does price influence the quantity of an item you are willing or able to purchase?
AC2103650
C13 Microeconomics
Module 2 Assignment
CerealPrivate Consumption – Supply / Demand
List three (3) goods or services that you buy frequently. Fill in the following details for each goods or
service in the provided table:
A. The current price and the quantity that you normally buy.
B. A higher price than the current price and the quantity that you would buy at that price.
C. A lower price than the current price and the quantity that you would buy at that price.
Item 1 cereal
Price Quantity Bought
$10 1 small box
$30 2 medium boxes
$50 3 large boxes
Item 2 rice
Price Quantity Bought
$15 1 small packet
$40 2 medium packets
$60 4 large packets
Item 3 chicken
Price Quantity Bought
$30 1 parcel
$45 2 parcels
$60 4 parcels
Analysis
Now, consider the price, and the quantity that you are willing to purchase at that price and answer the
following questions.
1. How does price influence the quantity of an item you are willing or able to purchase?
