What is Equilibrium
What do you mean by the term Equilibrium? Also state its proper definition.
Expert
Equilibrium:
A) It is the point where supply and demand curves intersect is termed as the market’s equilibrium.
B) Definition of equilibrium: It is a condition in which the price has reached the level where quantity supplied equivalents quantity demanded.
planned investment. planned saving. the difference between planned saving and actual saving. the difference between planned investment and actual saving.
Definition of shortage: It is a condition in which quantity demanded is more than the quantity supplied. The sellers will respond to the shortage by increasing the price of the good till the market reaches the equi
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