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If the price of goods rises with quantity demanded, would this result in proper a demand schedule? Why or why not?
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If the price of goods rises with quantity demanded, would this result in proper a demand schedule? Why or why not?

User Tyirvine
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14 votes

Answer:

Economists use the term demand to refer to the amount of some good or service consumers are willing and able to purchase at each price. Demand is based on needs and wants—a consumer may be able to differentiate between a need and a want, but from an economist’s perspective they are the same thing. Demand is also based on ability to pay. If you cannot pay for it, you have no effective demand.

User Othman Benchekroun
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