Question

How do aggregate demand and aggregate supply differ from regular demand and supply?

A. Regular demand and supply describe the market for a single good, while aggregate demand and aggregate supply describe the combined market for all final goods and services.
B. Regular demand and supply describe a market at a moment in time, while aggregate demand and aggregate supply describe the same market over an entire economic cycle.
C. Regular demand and supply describe a market for a given good from the point of view of a single firm, whereas aggregate demand and aggregate supply describe the market from the point of view of all firms in the market

Answer 1

A. Regular demand and supply describe the market for a single good, while aggregate demand and aggregate supply describe the combined market for all final goods and services

Step-by-step explanation:

Aggregate demand measures the total demand for all finished goods and services produced in a country.

Aggregate supply is the sum of all goods and services firms are willing to supply at a given price

Demand is the amount of a good consumers is willing and able to buy at a particular price

Supply is the amount of a particular good suppliers is willing to sell at a particular price.