The table showing the relationship between the price of a good and the amount that buyers are willing and able to purchase at various prices is called a demand schedule. It illustrates the law of demand, which states that as the price of a good increases, the quantity demanded decreases, and vice versa. Here is an example of a demand schedule:
Price of Good (USD)| Quantity Demanded
---|---
10| 100
20| 80
30| 60
40| 40
50| 20
This table shows that buyers purchase more of a good at lower prices and less at higher prices, reflecting their willingness and ability to buy at different price points.