Equilibrium
Published on Mar 16, 2016
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MORE DECKS TO EXPLORE
PRESENTATION OUTLINE
THE BALANCE BETWEEN PRICE & QUANTITY
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Prices adjust to make the quantity supplied equal to the quantity demanded
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Buyers who are willing to purchase goods at the equilibrium price will find ample supplies on store shelves.
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The equilibrium price and quantity can be found where quantity supplied equals quantity demanded, or the point where the supply curve crosses the demand curve.
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The equilibrium price is the price of a good or service when the supply of it is equal to the demand for it in the market. If a market is at equilibrium, the price will not change unless an external factor changes the supply or demand, which results in a disruption of the equilibrium.
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