--%>

What is Equilibrium

What do you mean by the term Equilibrium? Also state its proper definition.

E

Expert

Verified

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.

   Related Questions in Macroeconomics

  • Q : Why government taken as capital receipt

    Why the borrowings by Government are taken as capital receipts?

  • Q : Meaning of Fiscal policy Meaning of

    Meaning of Fiscal policy:Fiscal policy is the set of decisions and principles of a government regarding the extent of public expenses and mode of financing them. It is about the attempt of g

  • Q : Evaluation of net present value Explain

    Explain evaluation of net present value (NPV) and internal rate of return (IRR) in brief?

  • Q : Assignment Task 1 – Commercial banks in

    Task 1 – Commercial banks in United Economy have total deposits of AED 300 billion. Their reserves are AED 15 billion, two- thirds of which are with the Central Bank as deposits. There are AED 30 billion notes outside the banks. There are no coins! Calculate- a) The monetary base. b) The bank

  • Q : Problem on value of imports The balance

    The balance of trade demonstrates a deficit of Rs 300 crore. The values of exports are Rs 500 crore. Determine the value of imports? Answer:

    Q : Explain model of economy growth. The

    The origin of economic growth can be traced back to Adam Smith's Wealth of Nations. InSmith's view, economic growth of a nation depends on the 'division of labour' and specialization, and is limited by the limits of div

  • Q : MPC What relationship does the MPC bear

    What relationship does the MPC bear to the size of the multiplier? The MPS? What will the multiplier be when the MPS is 0, .4, .6, and 1

  • Q : Meaning of Cash Reserve Ratio or CRR

    Meaning of Cash Reserve Ratio (CRR): It is the percentage of net or total deposits of commercial bank that are maintained by RBI.

  • Q : Price ratios and marginal utility ratios

    I have a problem in economics on Price ratios and marginal utility ratios. Please help me in the following question. The efficiency in consumption needs equality of: (i) Income distribution. (ii) All product price and resources. (iii) MC and MR. (iv)

  • Q : Define Administrative revenue

    Administrative revenue: Administrative revenueis the revenue which occurs on account of the administrative function of government. It comprise: (a) Fees (college/school) (b) License fees paid to obtain permission to carry out a service (c) Fines and p