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Question
Demand schedule is a list of prices and quantities.
Options
True
False
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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.
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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.
Study the following table and answer the questions:
| Price of Chocolate (₹) | Quantity Demanded | Market Demand | ||
| Consumer A | Consumer B | Consumer C | (A + B + C) | |
| 50 | 4 | 9 | 20 | 33 |
| 100 | 3 | `square` | 15 | 26 |
| 150 | `square` | 7 | 10 | 19 |
| 200 | 1 | 6 | 5 | `square` |
| 250 | 0 | 5 | `square` | 5 |
Questions:
- Complete the above table.
- State whether the following statements are True or False:
(a) As the price rises from ₹50 to ₹250, market demand falls from 33 to 5. This fall in market demand is known as the decrease in demand.
(b) There is an inverse relationship between price and market demand.
Complete the correlation:
______ : Microeconomics : : Aggregate demand : Macroeconomics.
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 |
Individual demand is a demand by a single buyer.
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 |
Complete the following individual demand schedule.
| Price in (₹) | Quantity of sugar Demanded in Kgs |
| 5 | 20 |
| 6 | ______ |
| 7 | ______ |
| 8 | ______ |
| 9 | ______ |
What does a demand schedule show?
Why are individual and market demand schedules useful for businesses?
