"Supply Creates Its Own Demand" Is Known as

question 240

Multiple Choice

"Supply creates its own demand" is known as

• A) Keynes' Rule.
• B) Murphy's law
• C) Smith's law.
• D) Say's law.

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Definitions:

Second-Price Auction

A bidding process where the highest bidder wins but pays the second-highest bid price.

Vickrey Auction

A sealed-bid auction where the highest bidder wins but pays the second-highest bid price.

Sealed Bid

A method of auction where all bids are submitted confidentially, with the highest bidder winning.

Bid-Rigging Cartel

A secretive agreement between competitors to fix bidding processes to ensure a predetermined outcome.