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Theme 2
2.3 - AS
2.3.1 - The characteristics of Aggregate Supply
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Created by
Tayyibah Hussain
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Cards (4)
Aggregate
supply is the
volume
of goods and services produced within the economy at a given
price
level
Short-run
AS curve
Short run is the period of time when at least one factor of production is fixed and cannot be changed
short-run
AS is likely to be
elastic