Question

What are the determinants of Aggregate Supply (AS)?

Answer 1

A few of the determinants are size of the labor force, input prices, technology, productivity, government regulations, business taxes and subsidies, and capital. As wages, energy, and raw material prices increase, aggregate supply decreases, all else constant.

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Answer 2

Answer:

Maximum production from suppliers of goods and services applicable to a specific market is known as Aggregate Supply.

• Aggregate Supply is the total quantity of goods and services produced and supplied by the firms of the economy over a specific period of time at a given price point. It is usually represented by a supply curve that defines the relationship between price levels and the amount of product that companies are willing to supply.
• The determinants of Aggregate Supply include the changes in labour force, changes in the input prices, current technology, the productivity, various government regulations, business taxes and the subsidies.