ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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-2: -A demand schedule is a table that shows the quantity demanded at each price. A demand curve is a graph that shows the quantity demanded at each price. Sometimes the demand curve is also called a demand schedule because it is a graphical representation of the demand scheduls.

Detailed explanation-3: -Demand-a schedule or a curve showing the various amounts of a product consumers are willing and able to buy at each of a series of possible prices during a specified period of time. Quantity Demanded-the amount of a good that consumers choose to buy at a particular price.

Detailed explanation-4: -In economics, quantity demanded refers to the total amount of a good or service that consumers demand over a given period of time. Quantity demanded depends on the price of a good or service in a marketplace.

Detailed explanation-5: -Equilibrium: the quantity people are willing to buy equals the quantity people are willing to sell at each price. Excess Demand: the quantity demanded is greater than the quantity supplied at the given price. This is also called a shortage.