Which economist argued that value results from the intersection of supply and demand?

The concept that value results from the intersection of supply and demand is closely associated with Alfred Marshall, who is known for his contributions to microeconomic theory. In his work, Marshall developed the notion of supply and demand curves and illustrated how they interact in determining market prices. He emphasized that the equilibrium price is found at the point where the quantity supplied equals the quantity demanded, which is foundational in understanding market dynamics.

Marshall's analysis allows economists and real estate professionals to understand how shifts in supply or demand can affect prices in the market. His principles are fundamental in real estate, where demand for property can fluctuate based on economic conditions, demographics, and other factors, influencing property values in tangible ways. Other economists mentioned may have made significant contributions to economic theory, but it is Marshall who directly linked the concept of value to the interplay of supply and demand.