Advertisements
Advertisements
Question
Demand schedule is a list of prices and quantities.
Options
True
False
Advertisements
Solution
This statement is True.
Explanation:
A demand schedule is indeed a list of prices and the corresponding quantities demanded at each price level. It shows the relationship between the price of a good and the quantity demanded by consumers, typically in a tabular format.
APPEARS IN
RELATED QUESTIONS
Draw a demand curve with the help of a hypothetical individual demand schedule.
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.
Give economic terms:
Graphical representation of demand schedule.
State with reasons whether you agree or disagree with the following statements:
When price of Giffen goods fall, the demand for it increases.
Identify the most efficient student:
| Name of the student |
No. of projects completed |
Quality of projects | Time taken (in days) |
| P | 5 | Average | 4 |
| Q | 5 | Very good | 4 |
| R | 5 | Very good | 7 |
| S | 6 | Poor | 3 |
Individual demand is a demand by a single buyer.
Complete the following individual demand schedule.
| Price in (₹) | Quantity of sugar Demanded in Kgs |
| 5 | 20 |
| 6 | ______ |
| 7 | ______ |
| 8 | ______ |
| 9 | ______ |
Define individual demand.
According to the law of demand, what usually happens as the price of a commodity falls?
What distinguishes an individual demand schedule from a market demand schedule?
