Examlex
The explanation for the law of demand begins with
Aggregate Supply
The total supply of goods and services that firms in an economy are willing and able to sell at a given price level during a specific time period.
Macroeconomic Instability
A condition characterized by large and unpredictable fluctuations in key economic indicators such as GDP, inflation, and unemployment rates.
Aggregate Demand
The total demand for all goods and services within an economy at a given overall price level and in a given time period.
International Oil Prices
The cost per barrel of crude oil as determined on the global market, influenced by factors like supply and demand, geopolitical events, and economic data.
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