Sabri: > Doug talks about demand and supply, Shane talks about what happens > when the market clears so both of you are right: there is no conflict > between your statements.
right: markets don't clear immediately, since supply and demand are always shifting and prices do not change instantaneously. It's quite possible for the quantity demanded of something to exceed that supplied, so that a speculator signs a contract to buy something in the future that does not currently exist; the person who promises to supply the item may not actually have it. It's only when the contract is fulfilled that the quantity supplied and the quantity demanded have to be equal. -- Jim Devine / "In science one tries to tell people, in such a way as to be understood by everyone, something that no one ever knew before. But in poetry, it's the exact opposite." -- Paul Dirac. Social science is in the middle.... and usually in a muddle. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
