Demand Schedule
A demand schedule is a table which presents the diuerent prices of a good and the corresponding quantity demanded per unit of time. To illustrate the relation between the quantity of a commodity demanded and its price, we may take a hypothetical data for prices and quantities of commodity X. A demand schedule is drawn upon the assumption that all the other influences remain unchanged. It thus attempts to isolate the influence exerted by the price of the good upon the amount sold.
Table 1 : Demand schedule of an individual consumer
|
|
Price
(in Rupees)
|
Quantity demanded (Units)
|
|
A B C D E
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5
4
3
2
1
|
10
15
20
35
60
|
When the price of commodity X is ` 5 per unit, the consumer purchases 10 units of the commodity. When the price falls to ` 4, he purchases 15 units of the commodity. Similarly, when the price further falls, the quantity demanded by him goes on rising until at price ` 1, the quantity demanded by him rises to 60 units. The above table depicts an inverse relationship between price and quantity demanded; as the price of the commodity X goes on rising, its demand goes on falling.
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