Definition
Aggregate supply
In economics, aggregate supply is the total supply of goods and services by a national economy during a specific time period. There are at least two different versions of this concept in Keynesian economics.
Aggregate Supply - Total supply of goods and services in the economy from domestic sources (including imports) available to meet aggregate demand.
aggregate supply
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AGGREGATE SUPPLY
A measure of the total supply of goods and services produced within the economy from domestic sources that are available to meet aggregate demand
ALL OR NONE ...
See also Aggregate Supply; Laissez-Faire; Macroeconomics; Monetarist; Supply-Side Economics.
Economics Dictionary:
Keynesian economics
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aggregate supply The total amount of goods and services produced within an economy at a given... aggregate supply curve Parallel to the supply curve, a theoretical graph showing the aggregate supply at different price levels.
P is the general price level of consumers' goods, DC is the aggregate demand for consumers' goods and SC is the aggregate supply of consumers' goods.
Depression
Period when excess aggregate supply overwhelms aggregate demand, resulting in falling prices, unemployment problems, and economic contraction.
 See also: Supply, Demand, Market, Aggregate Demand, Exchange
  
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