ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The equation that spells out the quantities consumers are willing to buy at each price is called the demand curve. Demand and supply curves can be charted on a graph (see chart), with prices on the vertical axis and quantities on the horizontal axis.

Detailed explanation-2: -In economics, a demand schedule is a table that shows the quantity demanded of a good or service at different price levels. A demand schedule can be graphed as a continuous demand curve on a chart where the Y-axis represents price and the X-axis represents quantity.

Detailed explanation-3: -The market demand curve gives the quantity demanded by everyone in the market for every price point. The market demand curve is typically graphed and downward sloping because as price increases, the quantity demanded decreases. It can also be provided as a schedule, which is in table format.

Detailed explanation-4: -A demand schedule shows the number of goods consumers will buy at a given price. This schedule follows the law of demand; thus, it indicates that there is an inverse relationship between quantity demanded and price. An example of this would be movie tickets.