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The quarter of the labor force that was unemployed constituted a supply of labor for which the demand predicted by Say's law did not exist. John Maynard Keynes argued in 1936 that Say's law is simply not true, and that demand, rather than supply, is the key variable that determines the overall level of economic activity.
Thus from the four preceding articles [of Question 90], the definition of law may be gathered; and it is nothing else than an ordinance of reason for the common good, made by him who has care of the community, and promulgated. [7] Strictly speaking, this is a definition of human law. [8]
The law of demand applies to a variety of organisational and business situations. Price determination, government policy formation etc are examples. [6] Together with the law of supply, the law of demand provides to us the equilibrium price and quantity. Moreover, the law of demand and supply explains why goods are priced at the level that they ...
In legal research, a primary authority is a term referring to statements of law that are binding upon the courts, government, and individuals. Primary authority is usually in the form of a document that establishes the law, and if no document exists, is a legal opinion of a court. The search for applicable primary authority is the most ...
A treatise is a formal and systematic written discourse on some subject concerned with investigating or exposing the principles of the subject and its conclusions. [1] A monograph is a treatise on a specialized topic.
In the practices of international law, the Vienna Convention on the Law of Treaties is the legal authority about the formation and effects of a treaty. [9] The legal standing of the VCLT is recognised by non-signator countries, such as the U.S. and India, as legally binding upon all sovereign states [ 6 ] who have recognised the customary-law ...
Economic law is a set of legal rules for regulating economic activity. [ 1 ] [ 2 ] Economics can be defined as "a social science concerned with the production, distribution, and consumption of goods and services."
A legal treatise is a scholarly legal publication containing all the law relating to a particular area, such as criminal law or trusts and estates.There is no fixed usage on what books qualify as a "legal treatise", with the term being used broadly to define books written for practicing attorneys and judges, textbooks for law students, and explanatory texts for laypersons. [1]