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Economics miscellaneous

  1. “Supply creates its own demand” – Who said this ?
    1. J. B. Say
    2. J. S. Mill
    3. J. M. Keynes
    4. Senior
Correct Option: A

“Supply creates its own demand” is the formulation of Say’s law by John Maynard Keynes. The rejection of this doctrine is a central component of The General Theory of Employment, Interest and Money (1936) and a central tenet of Keynesian economics. Say’s Law (or Say’s Law of Markets), is often summa
rized as: “Aggregate supply creates its own aggregate demand”, “Supply creates its own demand”, “If you build it, they will come”, and Inherent in supply is the wherewithal for its own consumption”.



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