Demand Schedule and Demand Curve
Learning Contents: · Individual Vs. Market Demand Schedule · Individual Vs. Market Demand Curve · Difference between Individual and Market demand. Demand Schedule A table that shows the relationship between quantity demand and the price of a commodity is called as demand schedule. In other words, Demand Schedule is a table showing different quantities of a commodity that consumers purchase at different prices. The demand schedule is generally based on the law of demand that says other things remain constant, there exists an inverse relationship between price and quantity demand. If the price increases, the quantity demand decreases whereas if the price decreases, quantity demanded increases. The demand schedule generally consists of two columns: one for the price of a commodity and the other for the quantity demand. The demand schedule is classified into two types: Demand