In which of these two statements "supply" and "demand" used correctly?

"In corn market, demand often exceeds supply and supply sometimes exceeds demand." "The price of corn rises and falls in response to changes in supply and demand."

   Related Questions in Macroeconomics

  • Q : Macroeconomics-fiscal and monetary

    1) How can governments seek to control their national economies through fiscal and monetary policies?

    2) What are the causes of the fiscal deficits experienced by many developed nations in the past three years and what are the main effects

  • Q : Open-Economy Macroeconomics

    Open-Economy Macroeconomics

     

    Suppose the structure of an economy with a flexible exchange rates is represented by:

     

    C = 200 + 0.85*(Y - T)             &n

  • Q : Resolving disequilibrium between the

    Assume that you consume bananas and apples, and the marginal utility of the last apple consumed is 6 times the marginal utility of last banana consumed. Though, the price of apples is only 3 times the price of bananas. This disequilibrium among the two goods can be re

  • Q : Macroec Examples of command economies

    Examples of command economies are: a) the United States and Japan b) Sweden and Norway c) Mexico and Brazil d) Cuba and North Korea

  • Q : What is Equilibrium What do you mean by

    What do you mean by the term Equilibrium? Also state its proper definition.

  • Q : Shifting of market problem When this

    When this market starts in equilibrium at point e on S0D0 and then young American families rousingly “inherit” furniture as their baby-boomer parents shift into smaller retirement homes, then this market will tend to shift in the direction of: (i) point i.

  • Q : Why tax considered as revenue receipt

    Why is tax considered as revenue receipt?

    Answer: Since tax neither makes a liability for government nor decreases assets of the government.

  • Q : Consequence of investment in economy

    When in an economy intended investment is more than intended savings, then what is the consequence of it on the national income?

    Answer: When I > S, the level of

  • Q : Purchasing good according to Law of

    The market price you pay for each and every particular goods you purchase regularly is probably most closely associated with the last unit of each and every good’s: (1) Marginal utility. (2) Total utility. (3) Producer surplus. (4) Consumer surplus. (5) Economic

  • Q : Principles of macroeconomics What are

    What are the “powers of the Federal Reserve