Question

The difference between market demand and aggregate demand is that:

Answer 1

Answer:

d. aggregate demand applies to all goods and market demand applies to a specific good.

Explanation:

Market demand is to the quantities of a good or service that customers are able and willing to buy at a given period at a specific price. The focus is on a single product.

Market demand is in the microeconomics category. It addresses the quantities of a product that customers are willing to buy from the market at a specific price. In determining market demand, price is a critical consideration.

Aggregate demand is the total spending by the economy on goods and services at alternative prices over a given period. The consideration is for the entire country.

Aggregate demand represents the macroeconomic conditions of the country. In the long run, aggregate demand is the GDP of an economy.  GDP is the total amount of goods and services produced in a country, while Aggregate demand is the demand for those goods and services.

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