Saturday, July 28, 2018

What is equilibirum in economics

In economics, economics equilibrium is a situation in which supply and demand are balanced and the market price is also relevant towards buyers.

For Example -

Suppose a XYZ company is willing to sell their laptops at ₹ 30000. But buyers are not willing to buy at that price in the market. So company will bring down the price to ₹ 25000 at which laptops will get sold.

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