Define demand schedule. Why there is an inverse relationship between price and quantity demanded
Answers
Answered by
2
Explanation:
In economics, a market demand schedule is a tabulation of the quantity of a good that all consumers in a market will purchase at a given price. At any given price, the corresponding value on the demand schedule is the sum of all consumers’ quantities demanded at that price.The inverse relationship between price of a commodity and its quantity demanded is explained by law of demand. The Law of Demand states that while other things remaining constant, the quantity of a good demanded increases with a fall in the price and diminishes when the price increases.
mark as brainliest.
plz follow me
Similar questions
Social Sciences,
3 months ago
Social Sciences,
8 months ago
Chemistry,
8 months ago
Math,
11 months ago
Science,
11 months ago