Question

Your coworker Ginny is really concerned about a project that he has just been assigned. He is in charge of analyzing and determining conditions in the market for televisions from an extensive sales report.
If Ginny's boss is interested in a graphical presentation of the relationship between the price and quantity of televisions demanded, you would advise your coworker to construct ____________( the law of demand, a demand curve, a demand schedule) using the data provided. However, if Ginny's boss is more interested in the detailed numbers used to construct this visual representation, you would instead advise your coworker that ______________( the law of demand, a demand curve, a demand schedule) would be more appropriate.

Answer 1

Answer:

The answers are:

• a demand curve
• a demand schedule

Explanation:

A demand curve is a graph showing the relationship between the price of a product, e.g. TV, on the y axis, and the quantity demanded for that product at a certain price (on the x axis). It models the price-quantity demanded for a particular market.

A demand schedule illustrates the same price-quantity demanded relationship for a product as a demand curve, only that it is presented as a table chart instead of a graphic curve.