Pages

Monday, May 26, 2014

Supply

"Teach a parrot the terms supply and demand and you've got an economist"-Thomas Carlyle

  Which of the two is more important? In this edition of the journal we will be reviewing supply.  The definition of supply is essentially the willingness to sell.  This can encompass a lot from your local run of the mill corner store down to international corporations.  We can see that if a company or nation has access to create goods or services they can essentially profit from selling it to those companies or nations that find it harder to procure those resources. Without a service or good there is nothing to make a profit on so therefore you can not have a successful business.  Supply matters in terms of who and where to sell your items.  This is not saying that supply is the only thing that matters because in fact demand plays a vital role in our society as well which we will discuss in the next edition of the Journal. 

Android app on Google Play