A line on a graph that represents the total quantity of a good or service consumed at each price level within a range of prices. For most normal goods, the quantity demanded decreases as the price increases, producing a downwardly sloping line on the graph.
A demand schedule is a table that showcases the relationship between the price of a good or service and the quantity demanded at different price levels. It is a fundamental concept in economics that helps illustrate consumer behavior and market dynamics.
Quantity demanded refers to the specific amount of a particular good that buyers are willing to purchase in the market at a given price level. It is a key concept in economics that helps in understanding the dynamics of supply and demand.
