Question no 3053 SSC CGL Tier 1 Genral Awareness Questions and Answers Online Test 91

SSC CGL Tier 1 :: GA Test 91

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1 .

Say's Law of Market holds that

[ A ] supply is not equal to demand
[ B ] supply creates its own demand
[ C ] demand creates its own supply
[ D ] supply is greater than demand

Answer : Option B

Explanation :

Say's law, or the law of market, is an economi c pri nci pl e of cl assi cal economics named after the French busi nessman and e conomi st Jean-Baptiste Say (1767-1832), who stated that 'supply creates its own demand'. 'Suppl y creates i ts 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

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