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What are the components of aggregate demand?
Wealth
The total value of all financial assets and physical possessions owned by an individual, household, or nation, minus any debts.
Level Of Satisfaction
A measure of how goods, services, or conditions meet an individual's needs, desires, or expectations.
Risk Averse
A description of an individual or entity that prefers to avoid risk or chooses lower risk options when faced with uncertainty, often prioritizing security over potential higher returns.
Utility Function
A mathematical representation describing how consumers rank different bundles of goods based on the level of satisfaction they provide.
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