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Rick ‘D In Economics’ Perry Mocked For Incorrect Use Of ‘Supply And Demand’

ECONOMY

Rick ‘D In Economics’ Perry Mocked For Incorrect Use Of ‘Supply And Demand’





Secretary of Energy Rick Perry, who famously received a D in Economics at Texas A&M, was widely mocked on Twitter on Thursday for his incorrect definition of supply-and-demand economics, which he gave during a visit to a coal-fired power plant in Morgantown, W.Va.

“Here’s a little economics lesson: supply and demand,” Perry said. “You put the supply out there, and the demand will follow.”

The dictionary defines supply and demand as the law that “an increase in supply will lower prices if not accompanied by increased demand, and an increase in demand will raise prices unless accompanied by increased supply.”

Twitter users were quick to respond:




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