Aggregate Supply | A-Level Economics Notes

These revision notes cover everything you need to know about Aggregate Demand for A-Level Economics. They're designed for students studying AQA A-Level Economics, Edexcel A-Level Economics, and Edexcel International A-Level Economics. Written by Jaisul Naik, UCL Economics graduate and A-Level Economics tutor since 2017.


What is aggregate supply?

The total planned level of output in the economy at each price level.

What factors affect short-run aggregate supply?

Short-run aggregate supply is influenced by any changes in a business' costs of production.

  1. productivity
  2. wages
  3. raw material prices
  4. exchange rates
  5. indirect taxes

What is long-run aggregate supply?

The productive potential of the economy.