Question

Demand is a schedule of how much of a good people will purchase at each income level. how much of a good a person wants. each possible price and the amount people will buy when their incomes change. O how much of a good people will purchase at each different possible price. Question 6 Which of the following best represents the law of demand? As the price of a good increases, the quantity demanded of that good decreases. As the price of a good decreases, the demand curve for that good shifts to the right As the price of a good decreases, the demand for the good increases. As the demand for a good increases, the price of that good increases.

Answer 1

Ans: how much of a good people will purchase at each different possible price.

Explanation:

Demand schedule is a tabular presentation of how much of a good people will purchase at each different possible price.

6. Ans: As the price of a good increases , the quantity demanded for that good decreases.

Ans: The law of demand

8. Ans: Price and quantity demanded move in opposite direction.

Explanation:

According to the law of demand , other things being equal, an increase in the price of a good leads to a decrease in the quantity demanded of that good and vice versa. It means there is an inverse relationship between the price and quantity demanded of a good. Both price and quantity demanded of a good move in opposite direction.