When supply and demand are essentially equal, the economy is said to be in:

Question

Quizplus · Accepted Answer

When supply and demand are essentially equal, it means that the market is at equilibrium, where the quantity of goods or services demanded by consumers is the same as the quantity supplied by producers. This is the ideal situation for a healthy market as it ensures that prices are stable and efficient allocation of resources. A recession refers to a period of economic decline, while equivalence and abeyance are not relevant terms in this context.

When Supply and Demand Are Essentially Equal, the Economy Is