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It is the natural effect of improvement, however, to…

“It is the natural effect of improvement, however, to diminish gradually the real price of almost all manufactures.” quote by Adam Smith
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“It is the natural effect of improvement, however, to diminish gradually the real price of almost all manufactures.”

Adam Smith

About This Quote

This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.

Improvement tends to lower the cost of goods over time as production becomes more efficient.

In simple terms: Better production become cheaper.

Key Takeaway

Embrace innovation to reduce costs.

Themes

economics progress production efficiency prices

Mood

analytical optimistic

Type

economic observational

When to use this quote

  • business strategy
  • consumer pricing
  • technology adoption

Key Concepts

industrialization economies of scale market dynamics

Questions to Reflect On

  • How does innovation affect product pricing?
  • What limits can prevent price drops?
A Different Perspective

Cost reductions may lag behind rapid demand spikes.

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