A Quote by David Ricardo

The opinions that the price of commodities depends solely on the proportion of supply and demand, or demand to supply, has become almost an axiom in political economy, and has been the source of much error in that science.

David Ricardo

Quote Topics

Almost Axiom Become Been Commodities Demand Depends Economy Error Much Opinions Political Political Economy Price Proportion Science Solely Source Supply Supply And Demand

Quote Author

David Ricardo
British - Economist
April 18, 1772 - September 11, 1823

You want supply to always be full, and you use price to basically either bring more supply on or get more supply off, or get more demand in the system or get some demand out.

Travis Kalanick

Like any business, the oil industry runs on the basic premise of supply and demand. The more supply - the lower the price. The higher the demand - the higher price. In other words, the more people who can buy oil, the higher the price of oil.

Ron Wyden

The price of crude oil accounts for 55 percent of the price of a gallon of gasoline, driven by global supply and demand. The United States depends on foreign sources of oil for 62 percent of our nation's supply. By 2010, this is projected to jump to 75 percent.

Gary Miller

But it is clear that the price of labour has no necessary connection with the price of food, since it depends entirely on the supply of labourers compared with the demand.

David Ricardo

In short, what the living wage is really about is not living standards, or even economics, but morality. Its advocates are basically opposed to the idea that wages are a market price-determined by supply and demand, the same as the price of apples or coal. And it is for that reason, rather than the practical details, that the broader political movement of which the demand for a living wage is the leading edge is ultimately doomed to failure: For the amorality of the market economy is part of its essence, and cannot be legislated away.

Paul Krugman

If our political leaders are to be always a lot of political merchants, they will supply any demand we may create. All we have to do is to establish a steady demand for good government.

Lincoln Steffens

We are headed toward 'perfect capitalism,' when the laws of supply and demand become exact, because everyone knows everything about a product, service or customer. We will know precisely where the supply curve meets the demand curve, which will make the marketplace vastly more efficient.

Michio Kaku

Four things have almost invariably followed the imposition of controls to keep prices below the level they would reach under supply and demand in a free market: (1) increased use of the product or service whose price is controlled, (2) Reduced supply of the same product or service, (3) quality deterioration, (4) black markets.

Thomas Sowell

It's a market economy. Apparently the demand for great coaches exceeds the supply, so of course the price of good coaches is going to be high.

Michael Gartner

Mass production is only profitable if its rhythm can be maintained.. that is, if it can continue to sell its product in steady or increasing quantity. The result is that while, under the handicraft or small-unit system of production that was typical a century ago, demand created the supply, today supply must actively seek to create its corresponding demand.

Edward Bernays

A demand for commodities is not a demand for labor. The demand for labor is determined by the amount of capital directly devoted to the remuneration of labor: the demand for commodities simply determines in what direction labor shall be employed.

Millicent Fawcett

The supply price and the demand price should be roughly the same. You're not supposed to have two different prices. According to economists.

Richard Thaler

I do believe that oil production globally has peaked at 85 million barrels. And I've been very vocal about it. And what happens? The demand continues to rise. The only way you can possibly kill demand is with price. So the price of oil, gasoline, has to go up to kill the demand. Otherwise, keep the price down, the demand rises.