What is short-run aggregate supply?
What is short-run aggregate supply?
Short-run aggregate supply, or SRAS, is the total quantity of goods and services that firms are willing to produce at each price level. In the short run, money wages and other input prices are assumed to be sticky.
Step-by-step lessons covering AQA A Level Economics 2.2.5 Determinants of short-run aggregate supply for A Level Economics. Each lesson works through exam-style questions in Paper 1, Paper 2 and Paper 3 format. Start with the core supply-and-demand models before moving on to the more evaluation-heavy macroeconomic policy topics.