ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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demand schedule shows information in the form of a chart, while a demand curve shows information in the form of a graph
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demand curve shows information in the form of a chart, while a demand schedule shows information in the form of a graph
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there is no difference, both show the same information
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None of the above
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Detailed explanation-1: -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-2: -A demand schedule is a list that shows the quantity demanded at all possible prices that might prevail in the market at a given time, whereas a demand curve is a graph that shows the quantity demanded at each and every possible price that might prevail in the market at a given time.
Detailed explanation-3: -Demand schedule shows the relationship between the price of a commodity and the quantity demanded. Law of Demand states that as the price of a commodity falls, the corresponding demand increases and with rise in price, the demand of the commodity decreases.
Detailed explanation-4: -Factors that can shift the demand curve for goods and services, causing a different quantity to be demanded at any given price, include changes in tastes, population, income, prices of substitute or complement goods, and expectations about future conditions and prices.
Detailed explanation-5: -What Is a Demand Schedule? 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.