Demand Schedule

Sure, here’s a definition of a demand schedule:

Demand Schedule:A demand schedule is a graphical representation that shows the relationship between the price of a good or service and the quantity that consumers are willing to buy at each price. It is created by plotting the quantity demanded for each possible price. The demand schedule is an important concept in economics because it helps to explain the law of demand and is used to forecast demand.

Here are the key elements of a demand schedule:

• Good or service: The specific good or service whose demand is being measured.
• Quantity: The quantity of the good or service that consumers are willing to buy at each price.
• Price: The price of the good or service.
• Relationship: The relationship between the quantity and price, which is typically shown in a downward-sloping line graph.

Here is an example of a demand schedule:

| Price | Quantity Demanded ||—|—|| $10 | 100 || $12 | 80 || $14 | 60 || $16 | 40 || $18 | 20 |

This demand schedule shows that consumers are willing to buy more of a good at a lower price. As the price increases, the quantity demanded decreases. This is because consumers are willing to buy less of a good at a higher price.