Wednesday, May 5, 2010

Supply And Demand

Supply and demand is perhaps one of the most fundamental concepts of economics. It is the backbone of a market economy. The demand in the economics sense refers to how much (quantity) of a product or service is desired by buyers at a certain price. Supply represents how much the market can offer or simply the quantity of a product of services supplied in the market at a certain price.

The relationship between demand and supply underlies the forces behind the allocation of resources. In the open market economy, demand and supply theory will allocate resources in the most efficient way possible by which an equilibrium level is achieved.

The concept of demand and supply in God’s new testament economy is viewed quite differently. It is the fundamental concept of law and grace. For the law demands and grace supplies.

Law Demands
Due to disobedience, the Jews continued to uphold and kept the law of Moses, refusing to accept Christ as the Son of the living God. Since the law demands it is difficult to continue to keep the law of Moses.

In Matthew 11:28-30, Jesus said, “Come to Me, all you who labour and heavy laden, and I will give you rest. Take My yoke upon you and learn from Me, for I am gentle and lowly in heart, and you will find rest for your souls. For My yoke is easy and My burden is light.”

Jesus was actually speaking to the Jews, who were labouring to keep the law of Moses. They were heavy laden by the heavy yoke of the law and wearied from trying to continue to keep all the commandments. No wonder Paul said the “letter kills, but the Spirit gives life” (2 Cor 6:3). The letter which kills is the letter of the law, which only requires of man but is unable to supply man with life.

Grace Supplies
Since the letter of the law was weak it was set aside and replaced by the grace of the rich supply of Chirst, which gives life and life more abundantly.

By the blood of our Saviour, Jesus has made us perfect in the presence of God. We can now come boldly to God for the rich supplies by the grace of righteousness. “Stand fast therefore in the liberty wherewith Christ has made us free, and be not entangled again with the yoke of bondage.” (Gal 5:1). Also Heb 4:16.

The Grace supplies the enjoyment of our daily renewing of life supply and participation in Christ in the new covenant (See Nov 2008 article, “New Covenant”). “For His yoke is easy and His burden is light!”