a) Aggregate demand

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Last updated 9:13 PM on 3/1/26
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6 Terms

1
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  • define aggregate demand


  • total demand for all goods and services in an economy at any given average price level


2
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  • state the formula for aggregate demand


  • AD = C + I + G + (X - M)

    • aggregate demand = consumption + investment + government expenditure + net exports


3
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  • define consumption (C)


  • total spending on goods and services by consumers


4
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  • define investment (I)


  • total spending on capital goods by firms


5
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  • define government expenditure (G)


  • total spending on the economy by the government


6
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  • define net exports (X - M)


  • revenue from exports - expenditure on imports