Title: A Survey of the Supply-demand Theory in Western Economics
Abstract: There are heated discussions in western economics on the issue of whether it is supply determines demand or vice versa.For different periods and under diverse economic environments,sometimes people believe in supply determinism;at times,people holds that demand determines supply.Different views on the roles and functions of supply and demand,the two major forces of stimulating economy,induce different standpoints on which of the two is more important between supply and demand.Some economists emphasize the role of supply,while others stress the function of demand.In the short-term analysis,the economy depression period in particular,demand can play a vital role for economy increase and supply;in the long-term analysis,supply,effective supply in particular,can enlarge demand and accelerate economic growth.
Publication Year: 2006
Publication Date: 2006-01-01
Language: en
Type: article
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