Question

Match the following sentecnes with followings.

a. A graphical object showing the relationship between the price of a good and the amount of the good that buyers are willing and able to purchase at various prices
b. The amount of a good that buyers are willing and able to purchase at a given price
c. The claim that, with other things being equal, the quantity demanded of a good falls when the price of that good rises
d. A table showing the relationship between the price of a good and the amount that buyers are Willing and able to purchase at various prices

1. Quantity Demanded
2. Demand Curve
3. Demand Schedule
4. Law of Demand

Your coworker Rina is really concerned about a project that she has just been assigned. She is in charge of analyzing and determining conditions in the market for televisions from an extensive sales report. If Rina's boss is interested in a graphical representation of the relationship between the price and quantity of televisions demanded, you would advise your coworker to construct __________ using the data provided. However, if Rina's boss is more interested in the detailed numbers used to construct this visual representation, you would instead advise your coworker that __________would be more appropriate.

Answer 1

The correct matches are a. Demand Curve, b. Quantity Demanded, c. Law of Demand, d. Demand Schedule. Rina should use a Demand Curve for a graphical representation, and a Demand Schedule for detailed numeric data.

Step-by-step explanation:

Matching the sentences with the corresponding concepts:

• a. Demand Curve is a graphical object showing the relationship between the price of a good and the amount that buyers are willing and able to purchase at various prices.
• b. Quantity Demanded is the amount of a good that buyers are willing and able to purchase at a given price.
• c. The Law of Demand is the claim that, with other things being equal, the quantity demanded of a good falls when the price of that good rises.
• d. A Demand Schedule is a table showing the relationship between the price of a good and the amount that buyers are willing and able to purchase at various prices.

Considering Rina's situation, if her boss is looking for a graphical representation of the relationship between the price and quantity of televisions demanded, she should construct a Demand Curve using the data provided. However, if her boss prefers to see detailed numbers that are used to construct this visual, a Demand Schedule would be more appropriate.

Answer 2

a) & 2) ; b) & 1) ; c) & 4) ; d) & 3)

Demand Curve ; Demand Schedule

Step-by-step explanation:

a) A graphical object showing the relationship between the price of a good and the amount of the good that buyers are willing and able to purchase at various prices : 2) Demand Curve

b) The amount of a good that buyers are willing and able to purchase at a given price : 1) Quantity Demanded

c) The claim that, with other things being equal, the quantity demanded of a good falls when the price of that good : 4) Law of Demand

d) A table showing the relationship between the price of a good and the amount that buyers are Willing and able to purchase at various prices : 3) Demand Schedule

• If Rina's boss is interested in a graphical representation of the relationship between the price and quantity of televisions demanded, you would advise your coworker to construct Demand Curve using the data provided.
• If Rina's boss is more interested in the detailed numbers used to construct this visual representation, you would instead advise your coworker that Demand Schedule would be more appropriate.