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Economic equilibrium

Price of market balance - Economic equilibrium

In economics, economic equilibrium is a state of the world where economic forces are balanced and in the absence of external influences the values of economic variables will not change. For example, in the standard text-book model of perfect competition, equilibrium occurs at the point at which quantity demanded and quantity supplied are equal.

About the author

HALWEST KARIM

HALWEST KARIM

MA, Business Economics.

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