Question

The ___ show(s) the quantity of a good consumers would be willing and able to purchase at a given time for a range of prices while holding all other factors constant.
a) demand curve and demand schedule
b) demand curve
c) supply curve
d) supply schedule
e) demand schedule

Answer 1

Answer:

a) demand curve and demand schedule

Explanation:

A demand schedule is actually a table while a demand curve is a graph. Understanding the difference between the two of them is important in answering this question but both show different quantities of goods that consumers are willing to buy at different prices. An important assumption is that other factors affecting the quantity demanded are held constant. In summary, a demand schedule shows this relationship in a tabular form while demand curve shows it in a graphical form.