Option 1 -> Price is not a component; it's a determinant that affects quantity demanded.
Option 2 -> Consumption (C) is a key component of aggregate demand.
Option 3 -> Investment (I) is a major component of aggregate demand.
Option 4 -> Government spending (G) is a component of aggregate demand.
Hence, Option 1: Price -> Aggregate demand is calculated as AD = C + I + G + (X - M), where C is consumption, I is investment, G is government spending, and (X - M) is net exports. Price is not a component of this equation; rather, it is a variable that determines the quantity of aggregate demand. The relationship between price level and aggregate demand is shown through the aggregate demand curve, where price acts as an independent variable affecting the quantity demanded, not as an additive component of aggregate demand itself. -> correct