Complete the following table by selecting the term that matches each definition.

Definition

Quantity Demanded

Demand Curve

Demand Schedule

Law of Demand

A graphical representation of the relationship between the price of a good and the amount of the good that buyers are willing and able to purchase at various prices

The amount of a good that buyers are willing and able to purchase at a given price

The claim that, other things being equal, the quantity demanded of a good falls when the price of that good rises

A table showing the relationship between the price of a good and the amount that buyers are willing and able to purchase at various prices

Apply your understanding of the previous key terms by completing the following scenario with the appropriate terminology.

Your friend Poornima really struggles with understanding graphs. She shows you the following illustration and asks for your help interpreting it:

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PRICE (Dollars per toothbrush)

QUANTITY (Toothbrushes)

Demand

100, 0

Y-Intercept: 10

Slope: -0.1

Fortunately, you recognize that the line on this graph is . When your friend asks you what is the quantity of toothbrushes demanded at a price of $6 per toothbrush, you answertoothbrushes.