Question

introduction of aggregate demand and aggregate supply
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Answer 1

Answer:

The aggregate demand/aggregate supply model is a model that shows what determines total supply or total demand for the economy and how total demand and total supply interact at the macroeconomic level. Aggregate supply is the total quantity of output firms will produce and sell—in other words, the real GDP.

Answer 2

Answer:

AGGREGATE DEMAND:

                                        Aggregate demand is an economic measurement of the total amount of demand for all finished goods and services produced in an economy.

AGGREGATE SUPPLY:

                                      Aggregate supply, also known as total output, is the total supply of goods and services produced within an economy at a given overall price in a given period.