A demand schedule is

Assessment: WAEC SSCE - Economics - 1988 (Objective) Subject: Economics

Question 1 Report

A demand schedule is
Answer Details
A demand schedule is a table showing the relationship between the price of a good and the quantity of that good that consumers are willing and able to buy. It lists the various prices of a good and the corresponding quantity demanded by consumers at each price. Essentially, it shows the demand curve for a particular product, which reflects the law of demand, stating that as the price of a good increases, the quantity demanded by consumers decreases, all other factors being equal. Therefore, a demand schedule is a useful tool for businesses to understand how changes in price affect the quantity of goods they can sell, and for economists to analyze consumer behavior and market trends.

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning