Economics: Law of Demand T-Shirt Activity

Create a T-Shirt Activity: Activity Directions:
 

1. Design a T-shirt that you might sell about your business. Draw a sketch of your T-shirt.

2. Ask 25 Students how much they would be willing to pay that amount for your T-shirt

3. For each price listed below, record your results in a table format    Example: How much would you buy this Mr.B’s Neat Geek shirt for?

Cost In US Dollars	Number Sold
$0	2
$2	2
$5	3
$10	1
$15	2
$20	2
$25	15

4. Create a PPC Chart outlining Cost in Dollars versus Number Sold.

5. Answer the Following Questions:
a. How many shirts would you sell if you gave them away for free or sell them at $0?

b. At what price will you sell no shirts?

c. What happens to quantity demanded as price increases?

d. What happens to quantity demanded as price decreases?