Supply and demand
Capitalism is the most efficient economic system due to the free-market concept. The free-market system originated with Adam Smith and his self correcting mechanism the invisible hand. The free-market allows freedom of choice, and allows prices to stay stable and correct themselves due to competition, little government intervention, and supply and demand.
<Tab/>Supply and Demand are the major driving force behind capitalism and the free-market. Supply and Demand allows consumers and producers to change to market condition quickly. Demand is influenced by the price of goods.…
- Supply and demand
- The strategic role of Supply chain management in manufacturing industry
- Weather management can control all the factors influencing demand for and supply of labour.
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