Aggregate Supply (Theme 2: The UK Economy - Performance + Policies)

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4 Terms

1
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What is Aggregate Supply?

Total goods + services produced in the economy at a given price level

2
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What does the Short Run Aggregate Supply Curve look like + why?

When increasing the output, firms get more costs → increased prices

<p>When increasing the output, firms get more costs → increased prices</p>
3
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