amorze
Early Muslin economists, including Ibn Taymiyyah, understood supply and demand. The first modern use of the term was by James Denham-Steuart in 1767.
Supply and demand
History of the concept of supply and demand
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replied to: amorze
bonnieginter
Replied to: Early Muslin economists, including Ibn Taymiyyah, understood supply and demand....
Adam Smith used the phrase in his seminal work, The Wealth of Nations.
replied to: bonnieginter
zapster
Replied to: Adam Smith used the phrase in his seminal work, The Wealth...
Marginalism emerged in the late nineteenth century.