© Oxford University Press 2016 1
Oxford Big Ideas Humanities 7 Victorian Curriculum Teacher obook assess ISBN 9780190307363
Permission has been granted for this page to be photocopied within the purchasing institution only.
17.4 Supply and demand
Investigating supply and demand
1 Look at the image below. What does it suggest about the relationship between supply and demand?
2 Read the following scenario and answer the accompanying questions.
Maureen, a dress maker, decided she would design and sew 1950s-style ‘rock ‘n’ roll’ skirts at the
local market. Each skirt cost her $50 in labour, materials and studio space and she sold them for
$60 per skirt. During the summer season, Maureen sold out of her 30 skirts, so she frantically
made more to cover herself for the following autumn. However, for the next six months, Maureen
only managed to sell four skirts.