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WAEC Economics 2012 Question 8

Question 8

Theory of Demand

A demand schedule shows the quantities of goods that are

  1. A.bought at given prices at a time.
  2. B.supplied at given prices at a time.
  3. C.produced at given prices at a time.
  4. D.reserved for future consumption.
Show the answer and explanation

Answer: A (bought at given prices at a time.)

Explanation

A demand schedule is a table of quantities buyers will purchase at various prices at a given time.