Representative of Demand:

The demand for a commodity may be represented as a schedule, a curve or an equation.

Demand Schedule

It is a table or a list of various prices of a commodity and the corresponding quantities that would be purchased at a particular time period, when all other demand factors remain constant. For example, Table 1 shows the Demand Schedule for a commodity called Amala which is sold in bags. Column 2.1 Table 1 shows a set of prices for Amala and column 2 shows the quantities of Amala that consumers are wiling and able to buy at each price.

Note: As the price of Amala rose from 1,000 through to 7,000, quantity demand declined from 120 units to 0 units depicting the law of demand.