Demand

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Storyboard Text

  • Hey Gramps, what's demand?
  • I'll tell you all about it!
  • Demand is the quantity of a product or service that people are willing to buy at a certain price.
  • I want cotton candy!
  • Yeah Gramps, please?
  • Of course! Without demand, no business would ever produce anything.
  • So, if they estimate incorrectly they could suffer a major loss?
  • Businesses spend a lot of money to determine the amount of demand the public has for their products or services.
  • That's right!
  • The owner of the business better think smart if they want to sell their product
  • The law of demand states that... demand will be reduced as the price of a product is raised.
  • Today was fun Gramps!
  • Yeah, demand is awesome!
  • Now someday you can tell your grandchildren about demand!
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