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Message
re: Obama: Extending Unemployment Benefits “Creates New Jobs”
Posted on 1/8/14 at 9:56 am to GumboPot
Posted on 1/8/14 at 9:56 am to GumboPot
quote:
All novel goods are produced without a demand. You didn't know you needed an iPhone until it was produced. You were fine with your old flip phone. You didn't know you needed Windows on your computer, you were doing fine with MS DOS.
Demand for a novel good is definitely there before it is produced. Tons of money is poured into research to calculate this demand before production begins.
But in order for there to be demand, consumers must have money.
1
Posted on 1/8/14 at 10:09 am to Korkstand
quote:
Demand for a novel good is definitely there before it is produced.
Not necessarily. Likely more products fail due to lack of demand than succeed. To proved this assertion a detailed study would have to be carried out however, IMO a direct correlation can be drawn between business start up failures and product failures. LINK In other words, these business fail because they fail to sell a products that lack demand.
quote:
Tons of money is poured into research to calculate this demand before production begins.
Agree. And many times they are still wrong.
quote:
But in order for there to be demand, consumers must have money.
Hmmmm? I want (demand) a $2 million dollar house but I don't have the money for it. How is my demand there without the money?
I think you mean in order for people to fulfill their demands they need money (or some other form of value exchange).
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