Question

The market demand schedule or curve for a product shows the relationship between how much of the product buyers are willing and able to buy and the:
A. Product's priceB. Buyers' incomesC. Cost of producing the productD. Time period, say, from one month to the next

Answer 1

Answer:

A. Product's price

Explanation:

In this question, we applied the law of demand which shows an inverse relationship between the price and the quantity demanded of a particular commodity. If the price increases, the quantity demanded decreased and if the price decreased, the quantity demanded increased.  

In the case of a market demand schedule, it takes the price and quantity demanded the overall market.  

In this schedule, X-axis shows the quantity demanded of the product and Y-axis shows the price of the product.  

According to the given scenario, the most appropriate option is a. product price as the market demand schedule shows that price and quantity demanded are inversely related to each other.  

In buyer income, it considers the income of the buyer to purchase the product And option C is related to the producer point of view plus time period are also the not correct option