The Notion That "No Man Produces but with a View

question 38

Multiple Choice

The notion that "no man produces but with a view to consume or sell,"

• A)sums up Say's Law.
• B)can be restated as "supply creates it own demand."
• C)was said by David Ricardo,elaborating on Say's Law.
• D)All of the choices are correct.

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Definitions:

Price of Food

The cost assigned to food products, which can vary based on factors such as region, availability, and demand.

Utility Maximizing

The economic principle where individuals or entities make choices to get the highest level of satisfaction from their resources.

Market Basket

A collection of goods and services used to track inflation, consumer spending, or the cost of living in an economy.

MRSxy

The Marginal Rate of Substitution between good x and good y, indicating the rate at which a consumer is willing to give up good y for an additional unit of good x, keeping utility constant.