Supply/Demand and the Businessman

Recently, as I talked with a very successful manufacturer, he mentioned that his firm was simply unable to keep up with the unprecedented number of orders coming in for their particular product. Only a few days later, a neighborhood businessman and friend of mine lamented that he was at a loss to explain the slump his business was experiencing.

These two opposing comments, reflecting business conditions within one community, while not indicative of an economic trend one way or another, gave me food for thought concerning successful business practices. Hundreds of factors might be considered in determining the success or failure of any business venture. One major factor in every commercial undertaking is the law of supply and demand. It would seem that supply and demand directly or indirectly affect the life of each one of us daily.

January 6, 1973

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