A demand and supply schedule
A) allows assessment of the relationship between different levels of demand and supply at different prices.
B) describes the supply for a product.
C) describes the demand for a product.
D) is a formula by which one determines market equilibrium.
E) is the contractual agreement made between the buyer and seller.

Question

Quizplus · Accepted Answer

A demand and supply schedule is a chart that lists the quantities of a specific product or service that consumers are willing to purchase at various prices, and the quantities that producers are willing to sell at those prices. This allows for analysis of the relationship between demand and supply at different price points, which can help determine market equilibrium.

A Demand and Supply Schedule