Yes, the market demand schedule typically illustrates an inverse relationship between price and quantity demanded. This relationship is a fundamental principle in economics known as the law of demand.

Here's a breakdown of why this inverse relationship exists:

• Price and Quantity: As the price of a good or service increases, the quantity demanded by consumers generally decreases, and vice versa.
• Demand Schedule: A demand schedule is a table that lists the quantity of a good or service consumers are willing and able to purchase at various prices.

The law of demand is supported by two main effects:

• Substitution Effect: When the price of a good rises, consumers may switch to cheaper alternatives.
• Income Effect: When the price of a good rises, consumers' purchasing power decreases (their real income falls), leading them to buy less of the good.