WebSay’s law “supply creates its own demand” Solutions Answers to Self-Check Questions In order to supply goods, suppliers must employ workers, whose incomes increase as a result of their labor. They use this additional income to demand goods of an equivalent value to those they supply. WebNov 3, 2015 · In particular, quite a few economists seemed utterly unaware that Say’s Law – the proposition that supply creates its own demand, that shortfalls in aggregate demand were impossible –...
Say
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Ch 11- Lecture Notes - ECON 125 **Chapter 11: Aggregate Supply …
WebSay’s Law Say’s law states that the production of goods creates its own demand. In 1803, John Baptiste Say explained his theory. “It is worthwhile … WebApr 14, 2024 · 320 views, 11 likes, 0 loves, 2 comments, 0 shares, Facebook Watch Videos from Loop PNG: TVWAN News Live 6pm Friday, 14th April 2024 WebSay’s Law is the foundation of classical economics. Keyne believes demand determines supply. He believed prices and wages were not flexible enough to ensure that the economy would return to equilibrium. Spending on goods and services creates income and subsequently induces production. 2. III. Prices are flexible. The flexibility of prices ... how to view xbox clips