Market equilibrium tends to persist in time as long as demand or supply of a commodity does not change.

Name: Market equilibrium tends to persist in time as long as demand or supply of a commodity does not change.
Brand: Quizplus
Rating: 4.7 (35 reviews)

Question

Quizplus · Accepted Answer

Market equilibrium is a state where the quantity demanded of a commodity equals the quantity supplied, and it tends to persist unless there's a change in either demand or supply, which would shift the equilibrium point.

Market Equilibrium Tends to Persist in Time as Long as Demand