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18 December, 11:31

What are demand schedule and the demand curve and how are they related? Why does the demand curve slope downward? Does a change in consumers' tastes lead to a movement along the demand curve or a shift in the demand curve? Explain in detail. Does a change in price lead to a movement along the demand cure or a shift in the demand curve? Explain in detail.

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  1. 18 December, 11:47
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    Demand schedule is a table that shows the quantity demanded for a goods and service at different stages, while a demand curve is a graphical representation that shows the relationship between quantity demanded and price of the goods and service.

    A demand curve slopes downward for many reason's, some of which includes, price or income effect and substitution effect

    A change in consumer taste and price can lead to a movement along the demand curve.

    Explanation:

    Demand schedule is a table that shows the quantity demanded for a goods and service at different stages, while a demand curve is a graphical representation that shows the relationship between quantity demanded and price of the goods and service.

    A demand curve slopes downward for many reason's, some of which includes, price or income effect and substitution effect

    A change in consumer taste and price can lead to a movement along the demand curve.
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