A demand schedule is a table that shows the various quantities of a product or service that consumers are willing to purchase at different prices during a specified period. It represents the inverse relationship between price and quantity demanded, assuming that all other factors remain constant. Therefore, D is the correct choice as it defines the concept of the demand schedule accurately.

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A Demand Schedule

Question 19

Multiple Choice

A demand schedule:

A) reflects the relationship between quantity demanded and price, ceteris paribus, in a graphical form
B) is constructed on the assumption that price is constant
C) incorporates the effect of changes in consumer preferences
D) is a table that expresses possible combinations of prices and quantities demanded of a product
E) is developed based on the assumption that quantity is constant

Correct Answer: