Correct option is A
The correct answer is: (A) Equilibrium
Explanation:
Equilibrium in the market refers to the situation where the quantity of goods supplied equals the quantity demanded at a particular price. In this condition, there is no inherent pressure to change the price or quantity, and the market is in a balanced state.
Equilibrium in the market refers to the situation where the quantity of goods supplied equals the quantity demanded at a particular price. In this condition, there is no inherent pressure to change the price or quantity, and the market is in a balanced state.
Information Key Points:
This is a stable condition where there is no surplus or shortage of goods in the market.
The market forces of supply and demand interact to establish this equilibrium price and quantity.
Knowledge Booster (Other Option Information):
Stable: Stability in the market is related to a condition where prices or quantities do not fluctuate significantly.
Volatile: Volatility refers to situations where prices or quantities fluctuate significantly, often due to external factors.
Unstable: An unstable market is one in which supply and demand are not balanced, leading to fluctuations and uncertainties in prices or availability of goods.
English
30 Questions
30 Marks
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