Political economy

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Monograph

Identifikator:: 867647221

URN:: urn:nbn:de:zbw-retromon-93157

Document type:: Monograph

Author:: Chapman, Sydney John http://d-nb.info/gnd/123743141

Title:: Political economy

Place of publication:: London [u.a.]

Publisher:: Williams & Norgate [u.a.]

Year of publication:: 1912

Scope:: 1 Online-Ressource (255 Seiten)

Collection:: Economics Books

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SUPPLY AND DEMAND 67 ually, and all specialism means economy in production. Moreover the augmented industry would offer a larger market to the subsidiary industries, which are the industries engaged in meeting its wants for appliances and acces sories, and they would, therefore, be able to supply it with its requirements more cheaply. Moreover it is possible that transportation in connection with the industry would so develop that the cost of carriage in relation to the industry would be reduced. Enough has been said to suggest the possibility, which will frequently be found borne out by fact, that with the expansion of an industry marginal cost might fall. But just as a new firm may have beneficial effects upon existing firms and depress their expenses, so it may have deleterious effects upon them and force up their expenses. Consider the case of farming in a densely packed country. An increased demand for farm products, meaning an in crease of the farming classes and of the capital devoted to farming, would compel cultivators to work the old land more inten sively and bring new land, inferior to the worst of the old, under the plough. So costs would rise. Of course these tendencies to an enhanced supply price might be counteracted

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