Question

In a demand schedule, what do the X-axis and Y-axis represent when plotting the demand curve?

Options

• X-axis: Quantity demanded, Y-axis: Price

• X-axis: Price, Y-axis: Quantity demanded

• X-axis: Income, Y-axis: Quantity demanded

• X-axis: Quantity supplied, Y-axis: Price

Answer 1

X-axis: Quantity demanded, Y-axis: Price

Explanation:

The X-axis represents quantity demanded, and the Y-axis represents price for demand curve graphs.