in what ways do the reasons that explain the downward slope of the aggregate demand curve differ from the reasons that explain the slope of the demand curve for a single product?

Answer 1

Take a shot: what do you think?
Hint: compare what is on the y-axis on a single vs aggregate demand curve, what is on the x-axis.

Answer 2

Idk tell me answer

Answer 3

The demand curve for a single product is downward sloping bacause of the substitution effect. This means as the price of a product increases it becomes more expensive compared to another product that a consumer might buy to meet the same needs. This causes a consumer to buy less of this product and more of another one. Because the AD curve counts all good and services there is nothing to be substituted. This also applies to the income effect, when the price of a good increases while the dollar value of a consumers income does not, the consumer will turn to a cheaper alternative.