Economics lacks universal, fixed laws like physics. Instead, it has 'laws' that describe trends and orientations, subject to human behavior and changing conditions. All the conclusions and concepts produced by economists, which formed the basis of what is now called the science of economics, revolve around one pivotal law: the law of supply and demand. Thus, economic laws, such as the law of supply and demand, are in fact tendencies or principles that hold under certain assumptions, but they are not absolute or predictable like the laws of physics. Mohamed Al-Sayyad notes that economic laws are limited, and the dynamics of their internal mechanisms and external effects are not as rigid as the effects and outcomes of the laws of physics, for example. Economists, in turn, are...
