at the market price for a product, quality demanded equals the quantity supplied. there is no excess demand and no excess supply. what economic term describes this?

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24-02-2015
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at the market price for a product, quality demanded equals the quantity supplied. there is no excess demand and no excess supply. what economic term describes this?

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Gibbs Gibbs · Answer 1 · 2015-02-24T12:45:09-05:00

Gibbs Gibbs

24-02-2015

At the market price for a product, quality demanded equals the quantity supplied and there is no excess demand and no excess supply this is called "market equilibrium."

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