Demand schedule is the tabular statement of different quantities of a good bought of different prices of a particular moment of time. Demand schedule exhibits the relationship between the amounts of a commodity at different possible prices. Thus a demand schedule shows two columns namely amount demanded of a commodity and their corresponding prices.
Demand schedule shows the functional relationship between price quantity combinations. A man never buys a commodity in different amounts at the same prices. He buys more at fewer prices and less at high price. This fact is revealed by demand schedule. A demand schedule is of two types: individual demand schedule and market demand schedule-
Individual Demand Schedule:-
An individual demand schedule shows deferent quantities of a commodity bought by an individual consumer at different possible prices. The reaction of an individual towards the commodities at their corresponding prices is reflected by an individual demand.
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Market Demand Schedule:-
A market demand schedule is the summation of innumerable individual demand schedules for a definite commodity. Each individual consumer has got his own quantity at a particular going price. Thus we can arrive at market demand schedule by combining different schedule of individuals in the market.
A market demand schedules depicts various quantities of a commodity in the market at different prices in a given point of time. A demand schedule can be graphically represented. The graphical representation of demand schedule is known as demand curve. A demand curve can be drawn either on the basis of an individual demand schedule or on the basis of a market demand schedule.
The horizontal axis measure quantity of a commodity and the vertical axis measures the price of it. By plotting different points of price-quantity combinations we get a curve which slopes negatively from left to right. This curve is the demand curve.