In the 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." In which of these two statements are the terns "demand" and "supply" being used correctly?
(a) in neither statement
(b) in the second statenent
(c) in the first statement
(d) in both statements

d) in both statements

Explanation:

Demand is individual buyer's ability & willingness to buy a good, at given price, period of time. Supply is individual seller's ability & willingness to sell a good, at a given price, period of time.

Market Demand is all market buyers' ability & willingness to buy a good, at given price, period of time. It is horizontal, i.e quantity summation of individual demand curves, at respective prices.

Market Supply is all market sellers' ability & willingness to sell a good, at a given price, period of time. It is horizontal, i.e quantity summation of individual supply curves, at respective prices.

Market Equilibrium prices are quantities are determined based on, Market Demand & Market Supply equalisation (not individual demand, supply). So, 'in the corn market' , 'price of corn' are  determined by market demand & market supply. Hence, using 'demand' & 'supply' in both statements is inapt.

answerdemographic;

since the options are not listed, when you are working on your budget you should also add water, tv, internet, miscellaneous and your 'fun' money for in your budget. when budgeting, you need to allow for fun money, and mis/accidental money so that you stick to the budget and not go crazy because you feel strapped to the budget.