Which phrase best explains the purpose of a demand schedule?

Aindicate how supply and demand relate to price
Bshow the level of demand at various prices
Cdemonstrate how supply affects demand
Dcalculate how much of a good consumers will use

Question

02-11-2026
Social Studies

Answered

Which phrase best explains the purpose of a demand schedule?

Aindicate how supply and demand relate to price
Bshow the level of demand at various prices
Cdemonstrate how supply affects demand
Dcalculate how much of a good consumers will use

Verified Answer :

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GinnyAnswer GinnyAnswer · Answer 1 · 2026-11-02T09:27:23-05:00

Final answer:

A demand schedule displays the level of demand for a product at different prices. It supports businesses and economists in understanding consumer behavior concerning price changes. The correct phrase to explain its purpose is 'show the level of demand at various prices.'

Explanation:

Understanding Demand Schedules

A demand schedule is a table that shows the quantity of a good or service that consumers are willing and able to purchase at various prices over a certain time period. The phrase that best explains its purpose is: show the level of demand at various prices. This is because the demand schedule illustrates how the quantity demanded changes as the price fluctuates, allowing businesses and economists to analyze consumer behavior regarding pricing.

For example, if we create a demand schedule for ice cream, it might show that at $1 per scoop, consumers demand 100 scoops, but at $3 per scoop, they only demand 30 scoops. This relationship between price and quantity demanded is crucial for determining market dynamics and helps businesses make decisions regarding pricing strategies.

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Which phrase best explains the purpose of a demand schedule? Aindicate how supply and demand relate to priceBshow the level of demand at various pricesCdemonstrate how supply affects demandDcalculate how much of a good consumers will use

Verified Answer :

Final answer:

Explanation:

Understanding Demand Schedules

Learn more about demand schedule here:

Related Questions

Which phrase best explains the purpose of a demand schedule?

Aindicate how supply and demand relate to price
Bshow the level of demand at various prices
Cdemonstrate how supply affects demand
Dcalculate how much of a good consumers will use