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6. Jan. 2023 · Last updated 6 Jan 2023. Share : Say's Law is an economic principle that states that the production of goods (supply) creates its own demand. The law is named after Jean-Baptiste Say, a French economist who first articulated it in the early 19th century. According to Say's Law, the act of producing goods and services generates income for the ...
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23. Nov. 2020 · My Teligram channel Digvijay EconomicaTeligram link @DSRP1 see my important videos says law of market Explained in hindi,says market law ...
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Learning Objectives. The AD-AS model can be used to illustrate both Say’s law that supply creates its own demand and Keynes’ law that demand creates its own supply. Consider the three zones of the SRAS curve as identified in Figure 1: the Keynesian zone, the neoclassical zone, and the intermediate zone. Figure 1.
The alternative to Say’s law, with its emphasis on supply, is Keynes’ law: “Demand creates its own supply.” As a matter of historical accuracy, just as Jean-Baptiste Say never wrote down anything as simpleminded as Say’s law, John Maynard Keynes never wrote down Keynes’ law, but the law is a useful simplification that conveys a certain point of view.
The alternative to Say’s law, with its emphasis on supply, can be named Keynes’ Law: “Demand creates its own supply.” As a matter of historical accuracy, just as Jean-Baptiste Say never wrote down anything as simpleminded as Say’s law, John Maynard Keynes never wrote down Keynes’ law, but the law is a useful simplification that conveys a certain point of view.
