Aggregate Supply

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Definition: Aggregate Supply

Aggregate Supply refers to the sum total of all the goods and services that the suppliers are willing to sell in an economy at a specified time period and a given price level.

It is generally assumed that all the good and services produced are sold hence, it can be estimated by the goods and services produced in an economy.

Aggregate Supply

An aggregate supply curve is generally upward sloping as opposed to an aggregate demand curve.

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