Asked by Kimberly Ventura on May 14, 2024

verifed

Verified

The notion that "no man produces but with a view to consume or sell,"

A) sums up Say's Law.
B) can be restated as "supply creates it own demand."
C) was said by David Ricardo,elaborating on Say's Law.
D) All of the choices are correct.

Say's Law

An economic principle that suggests supply creates its own demand, meaning production of goods and services generates the purchasing power needed to buy those goods and services.

Supply

The total amount of a product or service that is available for purchase at any given price in a given market.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a certain period.

  • Understand the concepts of supply and demand as explained by Say’s Law and how it contrasts with Keynesian views.
verifed

Verified Answer

MC
Macel CheckMay 18, 2024
Final Answer :
D
Explanation :
This statement encapsulates Say's Law, which posits that supply creates its own demand. It was indeed articulated by David Ricardo in the context of elaborating on Say's Law, making all the provided choices correct interpretations or restatements of the notion.