Question

The demand schedule shows the relationship between the quantity demanded of a commodity and ____________.

• A. the income of the consumer
• B. the price of the commodity
• C. the tastes of consumer
• D. the price of related commodities

Answer 1

Answer: (B)

the price of the commodity

The demand schedule shows the relationship between the quantity demanded of a commodity and price of the commodity.Demand curve slope downwards as because the individual buys more of a commodity at lower price. Hence, because of the inverse relationship between price and quantity demanded, the demand curve slope downward. Demand graph indicates that the quantity demanded of a product gets increased when the price falls, other things remaining constant.