(Answered) What is aggregate supply?Global demandA specific supply at a local scale Purchasing power of an…

➤ What factors cause the aggregate supply curve to shift?
Aggregate supply shifts when an economy’s productive capacity or costs change. Positive shifts come from faster productivity, more capital, larger labour supply, or better technology. Negative shifts follow higher input costs, adverse supply shocks, stricter regulation, or higher business taxes. Distinguish permanent shifts to long-run capacity from temporary short-run cost movements.