This a major economic event that leads to a shift (positive or negative) in the AD curve. The event is often sudden and unexpected e.g. credit crunch leading to a demand-side shock due to an almost immediate reduction in credit availability.
This a major economic event that leads to a shift (positive or negative) in the AD curve. The event is often sudden and unexpected e.g. credit crunch leading to a demand-side shock due to an almost immediate reduction in credit availability.