The Demand Schedule Is a Description of the Behavior of _____

question 63

Multiple Choice

The demand schedule is a description of the behavior of _____ in a market.

• A) sellers
• B) buyers
• C) a supply schedule
• D) a demand schedule

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Definitions:

Capitalism

An economic system characterized by private or corporate ownership of capital goods, by investments determined by private decision, and by prices, production, and the distribution of goods determined mainly by competition in a free market.

Command Economy

An economic system where key economic decisions, such as allocation and distribution of resources, are made by the government.

Production

The process of creating, manufacturing, or producing goods and services.

Distribution

The process of making a product or service available for use or consumption by a consumer or business user.