Say's Law

question 60

Multiple Choice

Say's Law

• A) is valid only in a simple economy without financial markets
• B) led economists during the 1920s to encourage the government to adopt flawed economic policies that led to the Great Depression
• C) assures us that in the aggregate,firms are able to sell their output so that full employment can be sustained
• D) tells us that in the long run,markets clear
• E) tell us that firms must carefully monitor consumer spending and saving in order not to produce more than consumers are willing to purchase

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Definitions:

Peter Drucker

A highly influential management consultant, educator, and author, known as the father of modern management for his extensive works and principles on business management.

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The explicit and implicit factors that a customer seeks to fulfil when buying a product or a service.

Marketing Strategy

A business's overall game plan for reaching prospective consumers and turning them into customers of their products or services.

Business Portfolio

The collection of businesses, investments, products, or services that a company owns or operates, strategically managed to achieve optimal performance.