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Question
Complete the following individual demand schedule.
| Price in (₹) | Quantity of sugar Demanded in Kgs |
| 5 | 20 |
| 6 | ______ |
| 7 | ______ |
| 8 | ______ |
| 9 | ______ |
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Solution
To complete the individual demand schedule for sugar, you can follow the hint provided: as the price increases, the quantity demanded should decrease. Here's how you might complete the table:
| Price in (₹) | Quantity of sugar Demanded in Kgs |
| 5 | 20 |
| 6 | 18 |
| 7 | 15 |
| 8 | 12 |
| 9 | 10 |
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RELATED QUESTIONS
Explain the role of the following in correcting ‘deficient demand’ in an economy:
(i) Open market operations.
(ii) Bank rate.
The relationship between income and demand for inferior goods is ______.
Observe the following table and answer the following questions:
| Quantity demanded | ||||
| Price per kg. in ₹ | Consumer A |
Consumer B |
Consumer C |
Market demand (in kgs) (A + B + C) |
| 25 | 16 | 15 | 12 | ______ |
| 30 | 12 | 11 | 10 | ______ |
| 35 | 10 | 09 | 08 | ______ |
| 40 | 08 | 06 | 04 | ______ |
- Complete the market demand schedule.
- Draw market demand curves based on the above market demand schedule.
Demand schedule is a list of prices and quantities.
What will be the values of (i) and (ii)?
| Price (in ₹) | Quantity Demanded by | Total Demand | ||
| A | B | C | ||
| 10 | 30 | (i) | 12 | 52 |
| 20 | 20 | 8 | 9 | 37 |
| 30 | 10 | 6 | (ii) | 22 |
The graphical representation of total demand in an economy y is a ______.
Shyam, Sita, Renu, Ahmed and John are five consumers of apples. Their demand for apples is given below. Derive the market demand schedule for apples.
| Price per Kg. (In ₹) | Quantity Demanded (Apples) in Kg. | ||||
| Shyam | Sita | Renu | Ahmed | John | |
| 25.00 | 16 | 15 | 12 | 14 | 18 |
| 30.00 | 12 | 11 | 10 | 8 | 15 |
| 35.00 | 10 | 9 | 8 | 6 | 12 |
| 40.00 | 8 | 6 | 4 | 2 | 8 |
What is a demand schedule?
What does a demand schedule show?
What distinguishes an individual demand schedule from a market demand schedule?
