--%>

Define Demand schedule

What is Demand schedule and how it is associated to demand curve?

E

Expert

Verified

Demand schedule: The demand schedule is a table which exhibits the relationship among the price of a good and the quantity demanded. Demand curve is the downward-sloping line associating price and quantity demanded. The demand schedule and demand curve are associated since the demand curve is just a graph exhibiting the points in the demand schedule.

The demand curve slopes downward since of the law of demand—other things equivalent, whenever the price of a good increases, the quantity demanded of the good drops/falls. People purchase less of a good if its price increases both as they can’t afford to purchase as much and since they switch to buying other goods.

   Related Questions in Macroeconomics

  • Q : Article on Agriculture and economic

    Read the article on blackboard in the assignments area, John McCallum "Agriculture and economic development in Ontario and Quebec until 1870", Gordon Laxer, ed. Perspectives on Canadian Economic Development: Class, Staples, Gender and Elites (Toronto: Oxford Universit

  • Q : Calculating Trade balance Suppose the

    Suppose the value of exports of goods of a country is Rs. 1,000 crores and the value of imports of goods is Rs. 1,200 crores, what will be the trade balance (or balance of trade)?

  • Q : Define bank rate policy Define bank

    Define bank rate policy? How does it operate as a technique of credit control? Answer: Bank rate is the rate at which the central bank provides loans to the commerc

  • Q : The failure of the Supercommittee

    Question: Some commentators have argued that the failure of the "Supercommittee" is good thing for the economy?  Do you argree? Answer:

    Q : Crisis in Japan & US Question: What can

    Question: What can we learn from the Japanese experience? Is the US headed for a 'lost decade? Answer: There was a similari

  • Q : Components of aggregate demand What are

    What are the components of aggregate demand (AD)? Answer: The components of AD are as follows:AD = C + I + G + (X - M) By Simplifying AD = C + I, Here C refers to Household consumption demand and I refer

  • Q : National income Gross domestic capital

    Gross domestic capital formation is always greater than gross fixed capital formation

  • Q : Paradox of Value-High values of

    The fact that most of the necessities for life like water are priced much lower than the frivolities like diamonds is addressed by the: (1) Utilitarian enigma. (2) Law of diminishing marginal utility. (3) Rational ignorance of hypothesis. (4) Paradox of the value. (5)

  • Q : Surplus of AD over AS-Inflationary gap

    Does a surplus of AD over AS always entail a condition of inflationary gap? Answer: No. Inflationary gap takes place only if AD > AS equivalent to full employmen

  • Q : Full-employment Define the "

    Define the "full-employment" or "natural" rate of unemployment and give its approximate percentage rate as economists currently define it.