Asked by Peyton Tippens on Apr 30, 2024
Verified
Jean Baptiste Say believed in all of the following EXCEPT that
A) Supply creates its own demand.
B) People work so that they can save.
C) Everything produced in an economy is sold.
D) The normal state of economic affairs is full employment.
Jean Baptiste Say
A French economist known for Say's Law, which suggests that supply creates its own demand in the economy.
Supply
The total amount of a specific good or service that is available to consumers in the market at a given time and price.
Demand
Pertains to the desire and capability of consumers to buy products and services at various price points.
- Comprehend the principles of supply and demand as elucidated through Say's Law and contrast these with the perspectives offered by Keynesian economics.
Verified Answer
DA
Dumilde AssuncaoMay 01, 2024
Final Answer :
B
Explanation :
Jean Baptiste Say did not believe that people work solely to save. In fact, he argued that people work to consume goods and services, not just to accumulate savings.
Learning Objectives
- Comprehend the principles of supply and demand as elucidated through Say's Law and contrast these with the perspectives offered by Keynesian economics.