The key condition for equilibrium to occur in a market is:

Question

Quizplus · Accepted Answer

The key condition for equilibrium to occur in a market is that quantity demanded equals quantity supplied. This means that at a certain price level, the amount of goods or services that buyers want to purchase is matched by the amount that sellers are willing and able to supply, resulting in no excess demand or excess supply. This is the point where market forces are balanced and there is no pressure for prices to either increase or decrease. Therefore, choice B is the correct answer.

The Key Condition for Equilibrium to Occur in a Market