The Idea That "Supply Creates Its Own Demand" Is Attributed

question 270

Multiple Choice

The idea that "supply creates its own demand" is attributed to which of the following economists?

• A)Adam Smith
• B)David Ricardo
• C)J. B. Say
• D)A. C. Pigou

Understand the components and behavior of mixed costs.

Differentiate between types of costs based on their behavior (fixed, variable, semi-variable, and step costs).

Apply cost information in calculating and forecasting cost behavior in specific scenarios.

Understand various methods of cost estimation and their applications.

---

Definitions:

Departmental Reports

Internal documents that break down business performance by departments, aiding in analyzing specific areas of a company.

Controlling

Controlling refers to management activities that ensure the organization's goals are consistently being met in an effective and efficient manner.

Gross Profit

Net sales less cost of goods sold.

Future Revenue

Income that a company expects to receive from its normal business activities in future periods.