Understanding Demand Curves and Schedules

The video tutorial explains the concept of demand curves and schedules. It starts by introducing the basic idea of a demand schedule, which shows the relationship between price and quantity demanded. The tutorial then provides an example of how different prices affect the quantity demanded. It further explains how to plot these values on a graph to create a demand curve, which is typically downward sloping. The process involves matching price and quantity pairs on a graph and connecting the dots to form the curve.

What is the primary relationship depicted in a demand schedule?

• The relationship between supply and demand

• The relationship between quantity and price

• The relationship between cost and revenue

• The relationship between profit and loss

If the price of a product is zero, how many units are demanded according to the example?

• 40 units

• 80 units

• 60 units

• 100 units

At a price of 20, what is the quantity demanded in the given example?

• 80 units

• 20 units

• 60 units

• 40 units

What happens to the quantity demanded as the price increases from 10 to 20?

• It fluctuates

• It decreases

• It remains the same

• It increases

How do you plot the demand schedule on a graph?

• By drawing a straight line

• By using a pie chart

• By using a bar chart

• By connecting the price and quantity pairs with dots

What is the quantity demanded at a price of 30?

• 40 units

• 0 units

• 20 units

• 60 units

What is the shape of the demand curve?

• Downward sloping

• Upward sloping

• Horizontal

• Vertical