O'Reilly logo

Free Lunch: Easily Digestible Economics by David Smith

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

7Cordon bleu business

As we have looked at how consumers go about deciding what and how much to buy, and how the various components of gross domestic product fit together, it has so far been taken for granted that firms will always be willing to supply goods and services. That is not a bad description of the way things are. In real life there is always somebody willing to meet the needs of customers, to fill a ‘gap in the market’. Adam Smith’s ‘the butcher, the brewer and the baker’ are driven to provide us with meat, beer and bread by the prospect of making money and if they did not, somebody else would. If we were not sitting in this particular restaurant there would surely be another, owned by different people, but probably every bit as good. ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required