Correct Option: B. Inversely related to price Detailed Explanation: In economics, the demand schedule is a table that shows the quantity of a good or service that consumers are willing to purchase at various prices. The relationship between price and quantity demanded is a fundamental concept in economics, and it is typically represented by the law of demand. Step-by-Step Explanation:

1. Understanding the Law of Demand:
2. The law of demand states that, all else being equal (ceteris paribus), as the price of a good or service decreases, the quantity demanded increases, and conversely, as the price increases, the quantity demanded decreases. This inverse relationship is a key principle in economics.
3. Graphical Representation:
4. If we were to graph a typical demand schedule, the price would be plotted on the vertical axis (Y-axis) and the quantity demanded on the horizontal axis (X-axis). The resulting curve, known as the demand curve, would slope downwards from left to right. This downward slope visually represents the inverse relationship between price and quantity demanded.
5. Consumer Behavior:
6. The reasoning behind this inverse relationship is based on consumer behavior. When prices are lower, consumers are more likely to purchase more of a good because it is more affordable. Conversely, when prices rise, consumers may either buy less of that good or substitute it with a cheaper alternative.
7. Example:
8. Consider a simple example of a demand schedule for ice cream:
   • At $5 per cone, consumers may demand 10 cones.
   • At $4 per cone, the quantity demanded increases to 15 cones.
   • At $3 per cone, the quantity demanded rises to 20 cones.
9. This illustrates that as the price decreases from $5 to $3, the quantity demanded increases from 10 to 20 cones, confirming the inverse relationship.
10. Common Pitfalls:
11. A common mistake is to confuse the relationship between price and quantity demanded with the relationship between price and quantity supplied. While demand decreases as price increases, supply typically increases as price increases. It’s crucial to keep these concepts distinct.

Explanation of Other Options:

• Option A: Directly related to price:
• This option suggests that as price increases, quantity demanded also increases, which contradicts the law of demand. This is incorrect because it does not reflect consumer behavior accurately.
• Option C: Independent of price:
• This option implies that the quantity demanded does not change regardless of price changes. This is also incorrect, as demand is fundamentally influenced by price changes.
• Option D: Proportional related to supply:
• This option mixes concepts of demand and supply. While supply may increase with price, demand does not follow the same pattern. Demand is specifically about consumer willingness to buy at different price levels, not about the relationship with supply.

Revision Summary:

• The quantity demanded is inversely related to price, meaning as price decreases, quantity demanded increases, and vice versa.
• The demand curve slopes downward from left to right, illustrating this inverse relationship.
• Understanding consumer behavior is key to grasping why demand changes with price.
• Avoid confusing demand with supply; they respond differently to price changes.