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Vor 5 Tagen · Key Takeaways. Say's Law of Markets is theory from classical economics arguing that the ability to purchase something depends on the ability to produce and thereby...
In classical economics, Say's law, or the law of markets, is the claim that the production of a product creates demand for another product by providing something of value which can be exchanged for that other product. So, production is the source of demand.
Say’s law states that the production of goods creates its own demand. In 1803, John Baptiste Say explained his theory. “It is worthwhile to remark that a product is no sooner created than it, from that instant, affords a market for other products to the full extent of its own value.” (J. B. Say, 1803: pp.138–9) This view suggests that ...
16. Dez. 2018 · 510. 42K views 5 years ago. Say's Law or if you will, Jean-Baptiste Say's idea that supply creates its own demand (aggregate supply = aggregate demand), has been the...
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Say’s Law states that supply creates its own demand; changes in aggregate demand have no effect on real gross domestic product or employment, only on the price level. Say’s Law can be shown on the vertical neoclassical zone of the aggregate supply curve.
24. Jan. 2023 · Say's Law: An Overview. EconomicsOnline • January 24, 2023 • 5 min read. What Is Say’s Law? Say's law identifies the origins of the demand for goods in a market, and is often expressed by the phrase, "supply creates its own demand."
The colloquial expression for Say’s Law is that “supply creates its own demand.” It translates as Say saying that simply producing a good is enough to create a demand for it. Further, aggregate supply will always be equal to the aggregate demand of goods and services, and that we cannot deviate from full employment.
