Quantity supplied and demanded

Market price is the current price of the good or service.

• True

• False

The quantity ______ is the amount of a good or service that companies are willing to make and sell at the market price.

• Supplied

• Demanded

The quantity _________ is the amount of a good or service that consumers are willing to buy at the market price.

• Supplied

• Demanded

A hospital in Morristown wants to hire 2 new doctors. 5 doctors apply for the jobs. What is the quantity of doctors

demanded?

• 7

• 3

• 2

• 5

The hardware store downtown had 30 screwdrivers for sale for $6 each. They sold 22 of them. What was the quantity of screwdrivers demanded at $6?

• 52

• 8

• 30

• 22

There are 70 people in line to get a famous tennis player's autograph. But she only has time to sign 40. Each person in line is allowed to get only one autograph. What is the quantity of autographs

supplied?

• 30

• 40

• 110

• 70

A fashionable store downtown has 10 purses for sale for $100 each. When the store opened this morning, 30 people were in line to buy one. Each person in line wants to buy only one purse. What was the quantity of purses demanded at $100?

• 30

• 40

• 10

• 20

Farmers will grow 1,500 potatoes if the price is $1 each. If the price is $2, they will grow 2,500 potatoes. What is the quantity of potatoes supplied at $2?

• 1,000

• 1,500

• 4,000

• 2,500

Sporting goods companies will make 1,000 soccer balls if the price is $12 each. If the price is $18, they will make 1,500 soccer balls. What is the quantity of soccer balls supplied at $18?

• 1,000

• 2,500

• 1,500

• 500

Computer companies will make 500 computers if the price is $700 each. If the price is $1,100, they will make 800 computers. What is the quantity of computers supplied at $1,100?

• 300

• 800

• 1,300

• 500