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.
Adam Smith is known as the Father of Modern Economics and is known as the author of "The Wealth of Nations". According to the passage above, the idea of Adam Smith that made Mark think of starting a restaurant business is self-interest. The correct answer is option B. Self-interest, according to Adam Smith, is when the individual owns the resources available, labor and capital, can make voluntary decisions to control the marketplace. This is the biggest motivator in the activity in the economy.
