It refers to the condition that exists when quantity supplied and quantity demanded are equal.
Thursday, December 14, 2023
Add Comment
Question: It refers to the condition that exists when quantity supplied and quantity demanded are equal.
In economics, equilibrium is a term that describes a situation where there is no tendency for change. It refers to the condition that exists when quantity supplied and quantity demanded are equal. This means that the market price and the quantity traded are stable and consistent. When the market is in equilibrium, there is no excess supply or excess demand, and no pressure on the price to rise or fall.
Rjwala is your freely Ai Social Learning Platform. here our team solve your academic problems daily.
0 Komentar
Post a Comment