The distinction between demand and the quantity demanded is best made by saying that:
A. demand is represented graphically by a curve and quantity demanded is a point on that curve.
B. the quantity demanded is represented graphically by a curve and demand is a point on that curve.
C. the quantity demanded is in a direct relation with prices, whereas demand is in an inverse relation.
D. the quantity demanded is in an inverse relation with prices, whereas demand is in a direct relation.
Answer:A
The distinction between demand and the quantity demanded is best made by saying that:
A. demand is represented graphically by a curve and quantity demanded is a point on that curve. B. the quantity demanded is represented graphically by a curve and demand is a point on that curve. C. the quantity demanded is in a direct relation with prices, whereas demand is in an inverse relation. D. the quantity demanded is in an inverse relation with prices, whereas demand is in a direct relation.
Explanation: Demand refers to a schedule of quantities that will be bought per unit of time at various prices. It refers to the entire demand curve. Quantity demanded refers to a specific amount that will be demanded per unit of time at a specific price. It refers to a point on a demand curve.