A Practical Programme for Working Men
A Practical Programme for Working Men
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In our eReader you can find the full English version of the book. Read A Practical Programme for Working Men Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book A Practical Programme for Working Men
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Moreover, the uncontrollable nature of supply and demand is one of the essential features of the competitive system ; for no man engaged in the steel trade can know the exact amount of steel required by the whole world, or the exact amount of it which others are manufacturing; he discovers this only in the course of his business by the price he gets for his steel ; if be gets a high price, he knows the demand is greater than the supply ; if he can get only a low price, he knows the demand is di...minishing relatively to the supply.
As a matter of fact, a force equally beyond his control is perpetually pushing him to extend his factory : for competition always tends to lower prices, and the manufacturer is therefore driven by diminished profits to extend his business so as to make up by the magnitude of his operations for the small profit on every transaction. The more he extends his business, the more his competitors are tempted to extend for the same reason. There is therefore a perpetual tendency in every business for supply to increase beyond demand.
What to read after A Practical Programme for Working Men?
You can find similar books in the "Read Also" column, or choose other free books by Edmond Kelly to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Moreover, the uncontrollable nature of supply and demand is one of the essential features of the competitive system ; for no man engaged in the steel trade can know the exact amount of steel required by the whole world, or the exact amount of it which others are manufacturing; he discovers this only in the course of his business by the price he gets for his steel ; if be gets a high price, he knows the demand is greater than the supply ; if he can get only a low price, he knows the demand is di...minishing relatively to the supply.
As a matter of fact, a force equally beyond his control is perpetually pushing him to extend his factory : for competition always tends to lower prices, and the manufacturer is therefore driven by diminished profits to extend his business so as to make up by the magnitude of his operations for the small profit on every transaction. The more he extends his business, the more his competitors are tempted to extend for the same reason. There is therefore a perpetual tendency in every business for supply to increase beyond demand.
What to read after A Practical Programme for Working Men?
You can find similar books in the "Read Also" column, or choose other free books by Edmond Kelly to read onlineMoreLess
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