The addition of individual components to arrive at a total amount is called?

• A. Aggregation
• B. Elasticity
• C. Market Forces
• D. Demand

Answer: (A)

Aggregation is the process of adding together many separate parts to get a single total. In economics, this is used when we sum up individual demands to form total demand for a good, or add up value added across all firms to measure GDP. So the addition of individual components to arrive at a total amount is aggregation.

The other terms describe different ideas: elasticity is about how strongly quantity demanded changes when price changes; market forces are the combined pushes of buyers and sellers that shape prices and quantities; demand is the quantity people are willing and able to buy at various prices, not the act of summing items into a total.