Question

The demand schedule for a good Group of answer choices

Answer 1

Answer:

2. indicates the quantities of the good that people will buy at various prices.

Explanation:

Demand refers to an individual's willingness to buy a product in consideration for a price.

The law of demand states that more of a good is demanded at a lesser price and vice versa. When price of a good changes with other factors affecting demand remaining constant, the quantity demanded for that good changes which is termed as movement along the demand curve.

A demand schedule for a good represents the tabular relationship which shows the quantity demanded by customers at different price levels.

A demand schedule when represented graphically creates a downward sloping demand curve depicting inverse relationship between price of a good and it's quantity demanded.