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Page 108
We may ask : What are the actual economic facts the observed basic order among which is described by the law of supply and demand , and what sequence does this order pos- sess ? In passing , we may also ask what the word ' proper ...
We may ask : What are the actual economic facts the observed basic order among which is described by the law of supply and demand , and what sequence does this order pos- sess ? In passing , we may also ask what the word ' proper ...
Page 110
Above we have mentioned only production , which is but part of the supply process . Production can be measured from the records of goods produced . But what about demand ? If we take this to be measured by the amount of goods sold ...
Above we have mentioned only production , which is but part of the supply process . Production can be measured from the records of goods produced . But what about demand ? If we take this to be measured by the amount of goods sold ...
Page 112
The other curve , tending toward a minimum as zero is approached and toward a maximum in the other direction , is designated as the curve of supply . Vertical measures are prices , and horizontal measures are quantities of goods ...
The other curve , tending toward a minimum as zero is approached and toward a maximum in the other direction , is designated as the curve of supply . Vertical measures are prices , and horizontal measures are quantities of goods ...
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