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Please explain point number 1 to me in the image below, I do not understand. Implications of Say's Law of Markets Say drew four conclusions
Please explain point number 1 to me in the image below, I do not understand.
Implications of Say's Law of Markets Say drew four conclusions from his argument. 1. The greater the number of producers and a variety of products in an economy, the more prosperous it will be. Conversely, those members of a society who consume and do not produce will be a drag on the economy. 2. The success of one producer or industry will benefit other producers and industries whose output they subsequently purchase, and businesses will be more successful when they locate near or trade with other successful businesses. This also means that government policy that encourages production, investment, and prosperity in neighboring countries will redound to the benefit of the domestic economy as well. 3. The importation of goods, even at a trade deficit, is beneficial to the domestic economyStep by Step Solution
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