Question

Which phrase defines a demand schedule?

A.)a chart showing the impact of demographic changes on demand
B.)a table showing the quantity demanded for a good at different prices
C.)a graph tracking the increase in demand at decreasing prices
D.)a report analyzing factors causing a change in demand for goods

Answer 1

The question says, which phrase defines a demand schedule. The correct option is B. A demand schedule is a table which show the quantity of goods demanded by consumers at different price level. The quantity that will be demanded can be calculated using this table if the price level is given. The demand curve is usually drawn from the demand schedule.

Answer 2

The correct answer is B, a table showing the quantity demanded for a good at different prices. The demand schedule shows how many people want a specific product depending on its price. For example, if a price decreases, the demand schedule will likely show an increase in quantity demanded, because more people will want something that's cheaper. It doesn't concern demographic changes on demand (which has more to do with the population than the individual), it's not a graph (but instead a table), and it's not an analytical report that shows why a change in goods is happening (instead it just shows the change itself).