Fill out the blanks in this sentence: "A demand schedule is a numerical tabulation of the _____ of a good at different _____."

Expert Answers

An illustration of the letter 'A' in a speech bubbles

The first missing space in this sentence should be filled by the words "demanded quantity," while the second should be filled with the word "price." In other words, the whole sentence should read as follows: "A demand schedule is a numerical tabulation of the demanded quantity of a good at different prices."

In a nutshell, a demand schedule is a table that shows how many goods or services will be demanded at a specific price. Doing this gives economists and business managers an immediate indication of the relationship between the price of goods and services and what people are actually willing to pay for them.

A demand schedule is typically broken down into two columns. The first column lists various prices in either ascending or descending order, while the second column will state the quantity that will be demanded at that price. This information is acquired by doing quantitative market research.

As we know, the pricing of all commodities is calculated according to principles of supply and demand. The demand schedule that we are discussing here works hand-in-hand with a supply schedule, which will tell a manager everything he/she needs to know about how many goods or commodities could be supplied to them at a particular price level.

Approved by eNotes Editorial Team

We’ll help your grades soar

Start your 48-hour free trial and unlock all the summaries, Q&A, and analyses you need to get better grades now.

  • 30,000+ book summaries
  • 20% study tools discount
  • Ad-free content
  • PDF downloads
  • 300,000+ answers
  • 5-star customer support
Start your 48-Hour Free Trial