Chapter 7, Problem 5AA

To determine

To choose: The term that best completes the given sentence.

Answer to Problem 5AA

The term that best completes the given sentence is alternate.

Explanation of Solution

In economics, a demand schedule is a table showing the amount of a product or a service needed at various price levels. Like a stretchy rubber band, with a small price adjustment, the quantity requested moves quickly. Frozen pizzas may be an instance of this in daily life.

Analyzing of demand in the market involves understanding the demand of customers for a goods or service in a given market. Companies utilize demand analysis techniques to determine whether they can penetrate a market successfully and produce expected profits to advance their business operations.

So, the answer is alternate.

Economics Concept Introduction

Introduction: The concept of market demand schedule play a vital role in demand and supply theory, it is a tabular representation of the amount of goods in which all buyers in a market would buy at a particular rate. For any given price the equivalent value on the demand schedule is the aggregate of all the amounts demanded at that price by the customers.