In classical economics, Say's law, or the law of markets, is the claim that the production of a product creates demand for another product by providing something of value which can be exchanged for that other product. So, production is the source of demand.

2024年4月26日 · What Is Say's Law of Markets? Say's Law of Markets is a classical economic theory that says that the income generated by past production and sale of goods is the source of spending that...

An important element of classical economics is Say’s Law of Markets, after J.B. Say, a French economist who first stated the law in a systematic form. Briefly stated, this law means that ‘supply always creates its own demand.’.

Say's law, also known as Say's law of markets in economics, states that supply inevitably generates demand. As a result, the total output must invariably result in total demand. The law suggests increasing production is the key to economic growth rather than boosting demand.

Definition and explanation of Say's law - the production of goods creates its own demand. Quotes from Say, Keynes. Implications and criticisms of this economic theory.

2022年10月12日 · What Is Say’s Law? The most concise expression of Say’s Law—also called Say’s Law of Markets—comes from the English translation of his best-known work, the 1803 Traité d’économie politique (A Treatise on Political Economy): “Inherent in supply is the wherewithal for its own consumption.”

Say’s Law of Markets states that the supply of a good or service creates demand for that good or service, i.e., supply creates its own demand. According to Say’s Law, any economic agent must first produce goods and services that before they can consume, i.e., a person’s ability to demand goods and services is a direct result of the ...