Question

Be able to interpret a demand schedule and a demand graph

Answer 1

A demand schedule is a table or a chart that shows the quantities demanded at several different prices. An example of a demand schedule would be:

Price Quantity Demanded

$1 10

$2 20

$3 30

$4 40

A demand graph is the graphical representation of a demand schedule, in the form of a demand curve, in which the x axis represents the quantity demanded, and y axis represents the price.