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How is aggregate demand related to individual demand?
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VerifiedAggregate demand describes the total demand of all goods and services by all people at different given price levels in a certain period of time. On the other hand, Individual demand is the ability of an individual to purchase a certain good at different given price levels in a certain period of time. The relation between aggregate demand and individual demand is that aggregate demand collects all individual demands of all goods and services in an economy .
If it is possible to collect and measure all individual demands for all goods and services in one economy, we will have an aggregate supply. So, aggregate supply represents a sum of all different demands at each price levels.
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