Which of the following best describes a table that shows the quantity of a good that consumers are willing to buy at different prices?

• A. Supply schedule
• B. Demand schedule
• C. Demand curve
• D. Supply curve

Answer: (B)

Verified step by step guidance

1. Understand the key terms: A 'supply schedule' shows quantities producers are willing to sell at different prices, while a 'demand schedule' shows quantities consumers are willing to buy at different prices.
2. Recognize that the problem asks for a table showing quantities consumers want to buy at various prices, which relates to demand, not supply.
3. Recall that a 'demand curve' is a graphical representation of the demand schedule, plotting price on the vertical axis and quantity demanded on the horizontal axis.
4. Note that a 'supply curve' is the graphical representation of the supply schedule, which is not what the question is asking for.
5. Conclude that the correct description for a table showing quantities consumers are willing to buy at different prices is a 'demand schedule'.