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1. What are the demand schedule and demand curve ans how are they related? Why does the demand curve slope downward? 2. Does a change
1. What are the demand schedule and demand curve ans how are they related? Why does the demand curve slope downward?
2. Does a change in consumes' taste lead to a movement along the demand curve or a shift in the demand curve?
3. Popey's income declines, and as a result, he buys more spinach. Is spinach an inferior or a normal good? What happens to popey's demand curve for spinach?
4. What are the supply schedule and the supply curve and how are they related? Why does supply curve slops upward?
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