Distinguish between: 1) Aggregate Demand and Aggregate Supply

Distinguish between:
1) Aggregate Demand and Aggregate Supply

Aggregate Demand
Aggregate Supply
Aggregate demand implies the total demand for final goods and services by all the people in an economy.
Aggregate supply refers to the aggregate production planned by all the producers during an accounting year.
The important components of aggregate demand are consumption expenditure, investment, government expenditure, net exports etc.
Consumption and savings are the two main components of aggregate supply.
It is measured with the help of aggregate demand price (minimum sales proceeds that are expected)
It is measured with the help of aggregate supply price.

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