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25 July, 13:28

Which person is credited with introducing the concept of supply and demand?

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  1. 25 July, 16:56
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    The person is credited with introducing the concept of supply and demand is Adam Smith. Smith, often referred to as the father of economics, explained the concept of supply and demand as an "invisible hand" that naturally guides the economy. Smith described a society where bakers and butchers provide products that individuals need and want, providing a supply that meets demand and developing an economy that benefits everyone.
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