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What is meant by equilibrium? - Economics

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प्रश्न

What is meant by equilibrium?

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उत्तर

Equilibrium refers to a situation in which the quantity demanded of a commodity equals the quantity supplied of the commodity. It refers to the balance between opposite forces of demand and supply. In the market, balance occurs when the quantities demanded and supplied are equal. When the quantity demanded is not equal to the quantity supplied, we say that the market is in disequilibrium.

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पाठ 6: Market Mechanism: Equilibrium Price and Quantity in a Competitive Market - TEST YOURSELF QUESTIONS [पृष्ठ ११५]

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फ्रँक Economics [English] Class 12 ISC
पाठ 6 Market Mechanism: Equilibrium Price and Quantity in a Competitive Market
TEST YOURSELF QUESTIONS | Q 2. (i) | पृष्ठ ११५
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