Supply and Demand
Jul 2025 · BEYOND BOOKS HUB
Ebook
124
Pages
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About this ebook
Supply and Demand by Hubert D. Henderson, M.A., is a concise yet rigorous exploration of one of the foundational pillars of economic theory—the dynamic interplay between supply and demand. This classic text distills complex market forces into an accessible, logically structured analysis suitable for students, scholars, and professionals seeking clarity on the mechanisms that govern production, pricing, and consumption. In an age where market systems are increasingly intricate, Henderson returns to fundamentals, offering a clear map of the economic landscape through the lens of classical microeconomics. He examines how individual choices aggregate into powerful market trends, how value is determined, and how factors such as utility, production cost, risk, labor, and capital converge to form real-world outcomes. Chapter-by-Chapter Insights: Chapter I: The Economic World Introduces the conceptual framework of economics and defines the scope of the inquiry. Chapter II: The General Laws of Supply and Demand Explains the core theory of price determination and the balancing act between consumer desire and producer availability. Chapter III: Utility and the Margin of Consumption Discusses how individual satisfaction (utility) affects consumption decisions, introducing marginal utility theory. Chapter IV: Cost and the Margin of Production Details how marginal cost influences production levels and pricing in competitive markets. Chapter V: Joint Demand and Supply Investigates goods and services that are interdependent in their production or consumption. Chapter VI: Land Examines land as a unique economic input—finite, immobile, and crucial to production. Chapter VII: Risk-Bearing and Enterprise Explores the roles of entrepreneurship and the assumption of risk in a functioning economy. Chapter VIII: Capital Defines capital and its importance in expanding productive capacity. Chapter IX: Labor Analyzes the labor market, wage determination, and productivity. Chapter X: The Real Costs of Production Synthesizes previous chapters to explain what constitutes the actual cost of producing goods. Henderson’s writing is both elegant and economical, bridging academic theory with real-world application. His nuanced treatment of classical economic topics makes this a valuable resource for anyone seeking to understand the underpinnings of supply, demand, and price in modern economies.
About the author
Hubert Douglas Henderson (1890–1952) was a distinguished British economist, Cambridge academic, and economic advisor to the UK government. A key figure in early 20th-century economic thought, Henderson contributed to classical and Keynesian theory, and was noted for his clarity of exposition and commitment to public policy reform rooted in sound economic reasoning.
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