Aggregate Supply in Two Time Periods
Aggregate Supply in Two Time Periods
Aggregate supply (AS) is the total real output that firms in an economy are willing and able to produce at each average price level. A movement along an AS curve is caused by a change in the average price level, while a change in a determinant shifts the entire curve.
Step-by-step lessons on CIE Intl A Level Economics 4.3.7 determinants of AS. Each one builds up to exam-style questions.