The Law of Supply and Demand: Correct or Wrong?

Elasticity of Demand
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TARIQ MAHMOOD
Pakistan

The Law of Supply and Demand: Correct or Wrong?

🔥NEW Is the Law of Supply and Demand an actual economic phenomena or it is actually an indicator of declining humanity (sometimes in the name of freedom, wishes or materialism and so forth)?

  Jaap de Jonge
Editor, Netherlands
 

Law of Supply and Demand in Microeconomics and Macroeconomics

In microeconomics, supply and demand is an economic model of price determination in a market. It postulates that, holding all else equal, in a competitive market, the unit price for a particular good, or other traded item such as labor or liquid financial assets, will vary until it settles at a point where the quantity demanded (at the current price) will equal the quantity supplied (at the current price), resulting in an economic equilibrium for price and quantity transacted.

Demand and supply have also been generalized to explain macroeconomic variables in a market economy, including the quantity of total output and the general price level. The aggregate demand-aggregate supply model may be the most direct application of supply and demand to macroeconomics, but other macroeconomic models also use supply and demand. Compared to microeconomic uses of demand and supply, different (and more controversial) theoretical considerations apply to such macroeconomic counterparts as aggregate demand and aggregate supply. Demand and supply are also used in macroeconomic theory to relate money supply and money demand to interest rates, and to relate labor supply and labor demand to wage rates.
Source: Wikipedia.

  TARIQ MAHMOOD
Pakistan
 

The Economic Law of Supply and Demand is Wrong

As stated in your comments, what is taught is that the equilibrium of demand and supply determines the price when other ...

  Paramathmuni srinivas Kumar
India
 

Contentment and Its Effect on Economic Law of Supply and Demand

It is said that it's wise to be in a state of contentment as far as the gaining money is concerned and that does not mea...

  Sarah Daghman
Lecturer, Russian Federation
 

The Purpose of Supply and Demand

Economists do not rely on the law of supply and demand as "theory". Rather, they use them as tools. The co...

  Warren Miller, CPA, CFA
Strategy Consultant, United States
 

Supply and Demand

@TARIQ MAHMOOD: I don't know what planet you are living on, but it's not the real world. For starters, his way of determ...

  TARIQ MAHMOOD
Pakistan
 

The Economic Law of Supply and Demand is Wrong

State of contentment is not specific to money. It is virtue of Man to establish The Society by contentment which lead to...

  Amir Ganic
Business Consultant
 

Supply and Demand and Global Problem

Discussing supply and demand, discussing supply and demand as theoretical tools rather than empirical tools is merely a ...

  Warren Miller, CPA, CFA
Strategy Consultant, United States
 

Supply and Demand

For the law of supply and demand to work the way it should, government has to stay out of the way. Sure, I'll stipulate ...

  Maurice Hogarth
Consultant, United Kingdom
 

Good Business Practice versus Ethical Business Practice

The initial question is (part 1) Whether the law-theory of supply and demand is an "actual economic phenomena" or (part ...

  Warren Miller, CPA, CFA
Strategy Consultant, United States
 

Pitch-Perfect Post, Maurice

@Maurice Hogarth: Thank you, Maurice. I thought your observations were spot-on. It's regrettable that not every company ...

  Paramathmuni srinivas Kumar
India
 

Spiritual Solutions for Economy

We have tried communist, socialist and capitalist orders, however some 1500 years ago India was a successful economy by ...

 

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