Q.

"Supply creates its own demand" - Who said this?

A. J. B. Say
B. J. S. Mill
C. J. M. Keynes
D. Senior
Answer» A. J. B. Say
Explanation: "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 summarized 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".
5.6k
0
Do you find this helpful?
21

View all MCQs in

Economics (GK)

Discussion

No comments yet