Demand - buyers are willing to purchase at different prices...

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Demand In every market, there are both  buyers  and  sellers . The buyers' willingness to buy a particular good  (at various prices) is referred to as the buyers'  demand  for that good. The sellers' willingness to  supply a particular good (at various prices) is referred to as the sellers'  supply  of that good.  The buyers'  demand  is represented by a  demand schedule , which lists the quantities of a good that 
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Unformatted text preview: buyers are willing to purchase at different prices. An example of a demand schedule for a certain good X is given in Table 1 . Note that as the price of good X increases , the quantity demanded of good X decreases . TABLE 1 Demand Schedule for Good X Price of good X Quantity demanded $0 5 2 4 4 3 6 2 8 1 10...
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