what best describes demand schedule?\nsupply time table\nproduction chart\nconsumption log\na table that…

what best describes demand schedule?\nsupply time table\nproduction chart\nconsumption log\na table that shows a range of prices for a certain good or service and the quantity demanded at each price\nquestion 8\n1 pts\nwhat best describes economic surplus?\nsee social surplus\neconomic scarcity\ntotal deficit\nmarket shortfall\nquestion 9\n1 pts\nwhat best describes equilibrium?\nthe situation where quantity demanded is equal to the quantity supplied; no economic pressure from surpluses or shortages\nprice instability\nmarket flux\nsupply dominance

what best describes demand schedule?\nsupply time table\nproduction chart\nconsumption log\na table that shows a range of prices for a certain good or service and the quantity demanded at each price\nquestion 8\n1 pts\nwhat best describes economic surplus?\nsee social surplus\neconomic scarcity\ntotal deficit\nmarket shortfall\nquestion 9\n1 pts\nwhat best describes equilibrium?\nthe situation where quantity demanded is equal to the quantity supplied; no economic pressure from surpluses or shortages\nprice instability\nmarket flux\nsupply dominance

Answer

Brief Explanations:

  • A demand - schedule is a table showing price - quantity demanded relationships.
  • Economic surplus is not the same as social surplus, economic scarcity, total deficit, or market shortfall.
  • Equilibrium in economics is when quantity demanded equals quantity supplied with no surplus or shortage pressure.

Answer:

  • What best describes 'demand schedule'? a table that shows a range of prices for a certain good or service and the quantity demanded at each price
  • What best describes 'economic surplus'? None of the given options are correct. Economic surplus is the sum of consumer surplus and producer surplus.
  • What best describes 'equilibrium'? the situation where quantity demanded is equal to the quantity supplied; no economic pressure from surpluses or shortages