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By that logic, you could never have an excess or dearth of anything.
by dagenix 7y ago
By that logic, you could never have an excess or dearth of anything.
- jermaustin1 7y agoThat isn't true, something being bought at the rate it is produced means that demand outstrips or meets supply. No excess, possible dearth. Let's say I manufacture a million widgets and can only sell one of them. HUGE excess. Now let's say someone wants to buy a million widgets, but it takes me 3 weeks to build one. HUGE dearth.
- dagenix 7y agoI agree with you, but that's not what gp wrote: > I hear rumors that there are exactly as many units of oil sold as units of oil bought Gp compared the number of items sold with the number bought, not taking into consideration the number manufactured.
- Dylan16807 7y agoAnd then you adjust your prices until supply and demand are back in balance. The excess/dearth, by that overly simplistic definition, becomes roughly 0. Even though the underlying issues haven't gone anywhere.