Question

What are demand schedule and the demand curve and how are they related? Why does the demand curve slope downward? Does a change in consumers' tastes lead to a movement along the demand curve or a shift in the demand curve? Explain in detail. Does a change in price lead to a movement along the demand cure or a shift in the demand curve? Explain in detail.

Answer 1

Demand schedule is a table that shows the quantity demanded for a goods and service at different stages, while a demand curve is a graphical representation that shows the relationship between quantity demanded and price of the goods and service.

A demand curve slopes downward for many reason's , some of which includes, price or income effect and substitution effect

A change in consumer taste and price can lead to a movement along the demand curve.

Step-by-step explanation:

Demand schedule is a table that shows the quantity demanded for a goods and service at different stages, while a demand curve is a graphical representation that shows the relationship between quantity demanded and price of the goods and service.

A demand curve slopes downward for many reason's , some of which includes, price or income effect and substitution effect

A change in consumer taste and price can lead to a movement along the demand curve.