The demand schedule for a good Group of answer choices

1. indicates the relationship between the price of the good and the price of other goods.
2. indicates the quantities of the good that people will buy at various prices.
3. illustrates the quantity producers will provide at alternative prices.
4. is determined primarily by the cost of producing the good.

Question

04-02-2020
Business

contestada

The demand schedule for a good Group of answer choices

1. indicates the relationship between the price of the good and the price of other goods.
2. indicates the quantities of the good that people will buy at various prices.
3. illustrates the quantity producers will provide at alternative prices.
4. is determined primarily by the cost of producing the good.

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tallinn tallinn · Answer 1 · 2020-02-04T09:33:25+01:00

Answer:

2. indicates the quantities of the good that people will buy at various prices.

Explanation:

Demand refers to an individual's willingness to buy a product in consideration for a price.

The law of demand states that more of a good is demanded at a lesser price and vice versa. When price of a good changes with other factors affecting demand remaining constant, the quantity demanded for that good changes which is termed as movement along the demand curve.

A demand schedule for a good represents the tabular relationship which shows the quantity demanded by customers at different price levels.

A demand schedule when represented graphically creates a downward sloping demand curve depicting inverse relationship between price of a good and it's quantity demanded.