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Economics for Business Environment Name of the Student Name of the University Author Note

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Added on  2020-05-28

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Running Head: ECONOMICS FOR BUSINESS ENVIRONMENT ECONOMICS FOR BUSINESS ENVIRONMENT 9 9 Economics for Business Environment Name of the Student Name of the University Author note Answer 1 2 Answer a 2 Answer b 4 Answer C 5 Answer 3 7 References 9 Answer 1 Answer a In an economy, aggregate demand is the total goods and services demanded in a given period. The aggregate supply on the other hand captures the relation between price level and total goods and services produced by all the suppliers in a nation

Economics for Business Environment Name of the Student Name of the University Author Note

   Added on 2020-05-28

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Running Head: ECONOMICS FOR BUSINESS ENVIRONMENT Economics for Business EnvironmentName of the StudentName of the UniversityAuthor note
Economics for Business Environment Name of the Student Name of the University Author Note_1
ECONOMICS FOR BUSINESS ENVIRONMENT 1Table of ContentsAnswer 1..........................................................................................................................................2Answer a......................................................................................................................................2Answer b......................................................................................................................................4Answer 2..........................................................................................................................................5Answer 3..........................................................................................................................................7References........................................................................................................................................9
Economics for Business Environment Name of the Student Name of the University Author Note_2
ECONOMICS FOR BUSINESS ENVIRONMENT 2Answer 1Answer aIn an economy, aggregate demand is the total goods and services demanded in a givenperiod. It shows the relation between level of prices and the goods and services that a countryproduces domestically and captures consumption made by consumers, government, business andforeigners. An inverse relation exists between price aggregate demands. That means as priceincreases demand by different economic agents decreases making the demand curve downwardsloping from left to right. The aggregate supply on the other hand captures the relation betweenprice level and total goods and services produced by all the suppliers in a nation (Hubbard andO'brien 2015).. An increase in the price level encourages suppliers to supply more. The positiverelation between price and quantity supplied makes the aggregate supply curve positively sloped.Equilibrium in an economy is determined from intersection of aggregate demand and aggregatesupply curve. There are factors that cause a change in aggregate demand and aggregate supplycurve. Accordingly, output and price level change, causing change in other macroeconomicvariables (Benhabib, Wang and Wen 2015). Metals consuming economy
Economics for Business Environment Name of the Student Name of the University Author Note_3

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