Consumers facing a situation between actual and desired demand of good is
Answers
Hi, consider this,
Consumers facing a situation between actual and desired demand for goods is in equilibrium.
Equilibrium position in the context of the business implies a situation in which the demand for the goods that are in the market is equal to the supply of the same goods.
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Answer:
The state of equilibrium is established between the actual and desired demand for goods faced by the consumer.
Explanation:
It is the business context wherein the supply of goods matches the demand of the goods. This results in a situation wherein the prices of goods remain unaffected and the production remains stable. No competition of illegal practices like hoarding or smuggling exists. This situation may result in stagnation in the economy.