Question

what is them meaning of equilibrium in economics?

Answer 1

ANSWER....


Equilibirium is a condition all state in which economic forces have balance.
Economic equilibrium may also be defined as the point at which supply equals demand for a product, with the equilibrium price existing where the hypothetical supply and demand curves intersect. it can be applied in the number of contexts.




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Answer 2

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Economic equilibrium is a condition or state in which economic forces are balanced. ... Economic equilibrium may also be defined as the point at which supply equals demand for a product, with the equilibrium price existing where the hypothetical supply and demand curves intersect.
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Economic equilibrium is a condition or state in which economic forces are balanced. In effect, economic variables remain unchanged from their equilibrium values in the absence of external influences.
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Economic equilibrium may also be defined as the point at which supply equals demand for a product, with the equilibrium price existing where the hypothetical supply and demand curves intersect.

Economic equilibrium is also referred to as market equilibrium.
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