Demand schedule: Both common sense human research and careful scientific observation show that, the amount of a commodity people buy depends on its price. The higher the price of an article4, if other things held constant the fewer units consumers are willing to buy. The lower its market price the more units of it are bought. For example at $5 per box consumer will buy $8 million boxes per year. At a lower price $4 the quantity bought in $10 million boxes. At yet a lower price (p) equal to $3 the quantity demanded q is still greater at $12 million and so forth.
Demand Curve: The geographical represent action of the demand curve shows the relationship between the quantity demand of a good and their prices when all other influences on consumers planned purchases remain the same.
We graph the demand schedule as a demand curve with the quantity demanded on the horizontal axis and the price on the vertical axis. The points on the demanded curve tabled a through represent the rows of the demand schedule.
It is that quantity and price are inversely related, that is Q goes up when P goes down. The survey slopes downward going from left to right. This important property is also known as the law of downward – sloping demand.
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