Demand and supply are the opposite extremes of the beam, whence depend the scales of dearness and cheapness; the price is the point of equilibrium, where the momentum of the one ceases, and that of the other begins.
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Book II, On Distribution, Chapter I, p. 290Jean-Baptiste Say
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The opinions that the price of commodities depends solely on the proportion of supply and demand, or demand to supply, has become almost an axiom in political economy, and has been the source of much error in that science.
David Ricardo
The equilibrium between supply and demand is achieved only through a reaction against the upsetting of the equilibrium.
David (geographer) Harvey
There is reason for this shift of emphasis from any actual price to a hypothetical 'equilibrium' price. It is usually more interesting to know where a train is going than to know exactly where it is at any moment. The 'equilibrium' position of any price, wage, firm, industry, or system is the position toward which it is tending. The importance of equilibrium analysis, then, is that it enables us to discuss the directions of change. If a train is in New- York and its 'equilibrium' position is in Chicago, we are reasonably confident that the general direction of its motion will be westward, even if it unaccountably decides to travel north for the first hundred and fifty miles.
Kenneth Boulding
But it is clear that the price of labour has no necessary connection with the price of food, since it depends entirely on the supply of labourers compared with the demand.
David Ricardo
Supply and demand constantly determine the prices of commodities; never balance, or only coincidentally; but the cost of production, for its part, determines the oscillations of supply and demand.
Karl Marx
Say, Jean-Baptiste
Sayers, Dorothy L.
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