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When the above-mentioned supply and demand curves are drawn on the same axis, we see that the two curves meet at a specific point, namely when the price is R0,60, the sellers are prepared to supply 300 heads of cabbage and the buyers are prepared to purchase 300 heads of cabbage at that price. This price is known as the MARKET EQUILIBRIUM PRICE

and it represents the price at which the buyer and the seller are prepared to barter. At any other price the parties will not be able to agree and they will not be prepared to conclude a transaction.

Activity 4: supply and demand curve

Use the data that are supplied above and draw the Supply and Demand Curve on the same axis system: (Insert a separate page.)

Now read the following data from the graph:

  1. The market equilibrium price:
  2. The quantity demanded / supplied:


Learning Outcomes (LUs)
LO 1
the economic cycle The learner will be able to demonstrate knowledge and understanding of the economic cycle within the context of “the economic problem.”
Assessment Standards(ASs)
We know this when the learner:
1.5 explains the different flows of money, factors of production, goods and services in the economic cycle within the South African economy;
1.6 discusses the role of the foreign sector in the economic cycle;
1.7 illustrates by means of a graph and discusses how demand and supply influence prices;
1.8 critically assesses the influence and actions (strikes and stayaways) of trade unions in general and during the apartheid era on:
  • the South African economy;
  • political, economic and social transformation;
  • labour issues;
1.9 discusses the effect of the national budget on the economy (e.g. taxation and expenditure on education, social welfare, health and security.)


ACTIVITY 1: Supply curve

Draw the graph according to the information supplied in the table.

ACTIVITY 2: Supply

Factors that will affect the amount that is supplied

Cost of production – the greater the cost, the longer it takes to establish a supply.

Price of products – the higher the price, the greater the quantity offered.

Production techniques – better techniques at lower prices can increase the quantity offered.

Competition – when there is little competition, the producer will limit the supply in order to increase the price.

Market conditions – if there are more sellers than buyers, the producer will lower prices in order to sell the supply.

Tax levies – increase the price, which decreases the demand, as well as the supply.

Climatic conditions – if the rainfall is insufficient, production will decrease, which will also lower the supply.

ACTIVITY 3: Demand curve

Draw the graph according to the information supplied in the table.

Factors that will affect the quantity that is demanded

Price – if prices increase, the demand will probably decrease.

Tastes and custom – changes can result in price fluctuations.

Change in income – if incomes increase, the demand may increase.

Substitution goods – a cheaper substitute will cause a decrease in the demand.

Tax – the price increases, which lowers the demand for the product.

Economic conditions – in times of prosperity, the demand, especially for luxury goods, will increase.

ACTIVITY 4: Supply and demand curve

Draw the supply and demand curve from the above data and provide the answers to the following:

The market equilibrium price: 60c

The demand and supply amount: 300 heads of cauliflower

Questions & Answers

what is the stm
Brian Reply
is there industrial application of fullrenes. What is the method to prepare fullrene on large scale.?
industrial application...? mmm I think on the medical side as drug carrier, but you should go deeper on your research, I may be wrong
How we are making nano material?
what is a peer
What is meant by 'nano scale'?
What is STMs full form?
scanning tunneling microscope
how nano science is used for hydrophobicity
Do u think that Graphene and Fullrene fiber can be used to make Air Plane body structure the lightest and strongest. Rafiq
what is differents between GO and RGO?
what is simplest way to understand the applications of nano robots used to detect the cancer affected cell of human body.? How this robot is carried to required site of body cell.? what will be the carrier material and how can be detected that correct delivery of drug is done Rafiq
what is Nano technology ?
Bob Reply
write examples of Nano molecule?
The nanotechnology is as new science, to scale nanometric
nanotechnology is the study, desing, synthesis, manipulation and application of materials and functional systems through control of matter at nanoscale
Is there any normative that regulates the use of silver nanoparticles?
Damian Reply
what king of growth are you checking .?
What fields keep nano created devices from performing or assimulating ? Magnetic fields ? Are do they assimilate ?
Stoney Reply
why we need to study biomolecules, molecular biology in nanotechnology?
Adin Reply
yes I'm doing my masters in nanotechnology, we are being studying all these domains as well..
what school?
biomolecules are e building blocks of every organics and inorganic materials.
anyone know any internet site where one can find nanotechnology papers?
Damian Reply
sciencedirect big data base
Introduction about quantum dots in nanotechnology
Praveena Reply
what does nano mean?
Anassong Reply
nano basically means 10^(-9). nanometer is a unit to measure length.
do you think it's worthwhile in the long term to study the effects and possibilities of nanotechnology on viral treatment?
Damian Reply
absolutely yes
how to know photocatalytic properties of tio2 nanoparticles...what to do now
Akash Reply
it is a goid question and i want to know the answer as well
characteristics of micro business
for teaching engĺish at school how nano technology help us
How can I make nanorobot?
Do somebody tell me a best nano engineering book for beginners?
s. Reply
there is no specific books for beginners but there is book called principle of nanotechnology
how can I make nanorobot?
what is fullerene does it is used to make bukky balls
Devang Reply
are you nano engineer ?
fullerene is a bucky ball aka Carbon 60 molecule. It was name by the architect Fuller. He design the geodesic dome. it resembles a soccer ball.
what is the actual application of fullerenes nowadays?
That is a great question Damian. best way to answer that question is to Google it. there are hundreds of applications for buck minister fullerenes, from medical to aerospace. you can also find plenty of research papers that will give you great detail on the potential applications of fullerenes.
how did you get the value of 2000N.What calculations are needed to arrive at it
Smarajit Reply
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Source:  OpenStax, Economic and management sciences grade 9. OpenStax CNX. Sep 15, 2009 Download for free at http://cnx.org/content/col11074/1.1
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