Reference: Ref 7-1 (Figure: Demand Curve) Refer to the figure. Which part of the demand curve represents the satisfied wants?
A) Point B
B) Segment AC
C) Segment AB
D) Segment BC

Question

Reference: Ref 7-1 (Figure: Demand Curve) Refer to the figure. Which part of the demand curve represents the satisfied wants?
A) Point B 
B) Segment AC 
C) Segment AB 
D) Segment BC

Quizplus · Accepted Answer

Segment AB represents the satisfied wants because it shows the quantity that consumers are willing and able to buy at each price, indicating the level of demand for the product. This segment represents the amount of the product that consumers are already purchasing, indicating their satisfied wants.

Reference: Ref 7-1 (Figure: Demand Curve) Refer to the Figure