Answer to Question #76131 in Other Economics for JMila
Jean Baptiste Sey a Frenchman economist from early nineteen century is credited with stating “supply creates its own demand.”Today some economists appear to argue that “demand creates its own supply” Explain why neither statement is precisely correct, and how demand and supply together create the market for goods and services
Supply does not create its own demand, if the demand for the certain goods is satisfied and the market is already oversaturated. Not every unit of goods supplied is sold. Demand also does not create its own supply, if there is no available resources/technologies/opportunities to produce at the reasonable price. Not every unit of goods required can be bought. Market makes the balance between consumers and producers, when the equilibrium price and quantity are set up.
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Just have a question. Do you also provide help in understanding a concept? Not an assignment but for my learning. If certain concepts in the book are not clear, can you provide a simplified explanation of it using math that's understandable? You can charge the equivalent of an assignment.
Some things in the chapter attachments I sent you are not clear. They do not have much solved examples either.
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