Briefly explain a demand schedule and demand curve.

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Solution

Price of orange per unit in Rs. Quantity demanded in nos.
10 100
25 80
60 50
Demand schedule refers to the tabular presentation of different quantities of a commodity that will be demanded at different prices.
It expresses what quantities of goods a consumer is ready to buy at different prices. A demand schedule of oranges is shown above.

A demand curve is graphical representation that shows different quantities of given commodity that is demanded at various prices. Price of the commodity is measured along the Y axis and quantity demanded on X axis.
The points are plotted to obtain a downward sloping demand curve, indicating inverse relation between price and quantity demanded.

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