Reference: Ref 7-2 (Figure: Demand Curve Sections) Refer to the figure. The section of the demand curve labeled B represents the:
A) value of the good in its next highest use.
B) satisfied wants.
C) unsatisfied wants.
D) All of the answers are correct.

Question

Reference: Ref 7-2 (Figure: Demand Curve Sections) Refer to the figure. The section of the demand curve labeled B represents the:
A) value of the good in its next highest use. 
B) satisfied wants. 
C) unsatisfied wants. 
D) All of the answers are correct.

Quizplus · Accepted Answer

The section of the demand curve labeled B represents unsatisfied wants, indicating the quantity of a good that consumers are willing and able to buy at various prices. At higher prices (to the left of point B on the curve), consumers are unwilling or unable to buy the good, indicating unsatisfied wants.

Reference: Ref 7-2 (Figure: Demand Curve Sections) Refer to the Figure