A schedule of the amounts of a firm's product that consumers will purchase at different prices during a specified time period is referred to as _____.
A)demand
B)supply
C)surplus
D)ration

Question

Quizplus · Accepted Answer

The schedule of the amounts of a firm's product that consumers will purchase at different prices during a specified time period is defined as demand. Supply refers to the amount of a product that producers are willing to provide to the market. Surplus refers to a situation in which the quantity of a product that is supplied exceeds the quantity that is demanded. Ration refers to a system for allocating scarce goods and resources.

A Schedule of the Amounts of a Firm's Product That