Thursday, January 28, 2016

What is equilibrium?

State of stable conditions in which all significant factors remain more or less constant over a ...
TERM OF THE DAY JANUARY 28, 2016
equilibrium
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State of stable conditions in which all significant factors remain more or less constant over a period, and there is little or no inherent tendency for change. For example, a market is said to be in equilibrium if the amount of goods that buyers wish to buy at the current price is matched by the amount the sellers want to sell at that price. Also called steady state.
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USAGE EXAMPLE
Equilibrium in the economic market is often desired, but it is very rarely actually achieved due to the tumultuous nature of the market.
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