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<h2>Demand Schedule</h2>
<p>Demand schedule can be defined as a table showing the relationship between prices and the quantity of that commodity demanded. There are two (2) types of demand schedule namely:</p>
<h3>1) Individual Demand Schedule:</h3>
<p>This specifies the units of a good or service that an individual is willing and able to purchase at alternative prices during a given period of time. Example:</p>
<p><strong>Rosemary's Individual Demand Schedule For Tins of Milk</strong></p>
<table>
<tbody>
<tr>
<td>Price Per Milk in ₦</td>
<td>Quantity Demanded</td>
</tr>
<tr>
<td>100</td>
<td>10</td>
</tr>
<tr>
<td>80</td>
<td>20</td>
</tr>
<tr>
<td>60</td>
<td>30</td>
</tr>
<tr>
<td>40</td>
<td>40</td>
</tr>
<tr>
<td>20</td>
<td>50</td>
</tr>
</tbody>
</table>
<h3>2) Market Demand Schedule:</h3>
<p>This is also known as an aggregate or total or composite demand schedule. It reflects the collective wants of people in a market area and is the sum of the quantities demanded by all individuals in the market at alternative prices. Example:</p>
<p><strong>Market Demand Schedule For Tins of Milk</strong></p>
<table>
<tbody>
<tr>
<td>Price Per Tin</td>
<td>Dauda</td>
<td>Buba</td>
<td>Abraham</td>
<td>Fortune</td>
<td>Musa</td>
<td>Total Commodity Purchased</td>
</tr>
<tr>
<td>100</td>
<td>10</td>
<td>15</td>
<td>6</td>
<td>16</td>
<td>20</td>
<td>67</td>
</tr>
<tr>
<td>80</td>
<td>20</td>
<td>25</td>
<td>10</td>
<td>24</td>
<td>40</td>
<td>119</td>
</tr>
<tr>
<td>60</td>
<td>30</td>
<td>35</td>
<td>15</td>
<td>32</td>
<td>60</td>
<td>172</td>
</tr>
<tr>
<td>40</td>
<td>40</td>
<td>45</td>
<td>20</td>
<td>38</td>
<td>80</td>
<td>223</td>
</tr>
<tr>
<td>20</td>
<td>50</td>
<td>55</td>
<td>30</td>
<td>40</td>
<td>100</td>
<td>275</td>
</tr>
</tbody>
</table>

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Demand Schedule

Economics studies social behavior guiding the allocation of scarce resources to meet the unlimited needs and desires of the individual members of a given society, and for the production of goods and services, growth of production and welfare over time, and a great variety of other complex issues of vital concern to society. 

Economics

Discover the principles behind the behavior of consumers and the factors that affect demand, including determinants of demand, types of demand, elasticity of demand, and its measurement, as well as how to apply price elasticity of demand in real-life situations.


Demand Schedule

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