When a demand schedule is drawn in a graph:

Question

Quizplus · Accepted Answer

All of the options are correct. In a demand schedule graph, price is measured on the vertical axis while quantity is measured on the horizontal axis. The resulting curve shows a negative slope, indicating that as the price of a good or service increases, the quantity demanded of that good or service decreases. Other variables are also held constant, such as income, tastes and preferences, and the price of related goods.

When a Demand Schedule Is Drawn in a Graph