In a market, the equilibrium condition is given by the following:
A) quantity demanded = quantity supplied
B) quantity demanded × quantity supplied
C) quantity demanded / quantity supplied
D) price × quantity demanded = quantity supplied

Question

Quizplus · Accepted Answer

The equilibrium condition in a market is that the quantity demanded by consumers should equal the quantity supplied by producers. This means that at the market price, the quantity of goods or services demanded by consumers should be equal to the quantity of goods or services supplied by producers. This is achieved when the market is in a state of balance, with neither excess supply nor excess demand, and the price is stable. The equation for this condition is simply:

quantity demanded = quantity supplied

Therefore, choice A is the best answer.

In a Market, the Equilibrium Condition Is Given by the Following