Economics

Aggregate Supply

Aggregate Supply

Aggregate Supply is the total supply of goods and services produced in the economy at confirmed overall price level in a given time interval. It is represented because of the aggregate supply curve, which describes their bond between price levels and how much output that firms are likely to provide. Normally, there is a positive relationship in between aggregate supply and the price level. Rising prices usually are signals for corporations to expand production in order to meet a higher amount of aggregate demand.