<P> In economics , economic equilibrium is a state where economic forces such as supply and demand are balanced and in the absence of external influences the ( equilibrium ) values of economic variables will not change . For example , in the standard textbook model of perfect competition , equilibrium occurs at the point at which quantity demanded and quantity supplied are equal . Market equilibrium in this case refers to a condition where a market price is established through competition such that the amount of goods or services sought by buyers is equal to the amount of goods or services produced by sellers . This price is often called the competitive price or market clearing price and will tend not to change unless demand or supply changes , and the quantity is called `` competitive quantity '' or market clearing quantity . However , the concept of equilibrium in economics also applies to imperfectly competitive markets , where it takes the form of a Nash equilibrium . </P>
<P> In economics , economic equilibrium is a state where economic forces such as supply and demand are balanced and in the absence of external influences the ( equilibrium ) values of economic variables will not change . For example , in the standard textbook model of perfect competition , equilibrium occurs at the point at which quantity demanded and quantity supplied are equal . Market equilibrium in this case refers to a condition where a market price is established through competition such that the amount of goods or services sought by buyers is equal to the amount of goods or services produced by sellers . This price is often called the competitive price or market clearing price and will tend not to change unless demand or supply changes , and the quantity is called `` competitive quantity '' or market clearing quantity . However , the concept of equilibrium in economics also applies to imperfectly competitive markets , where it takes the form of a Nash equilibrium . </P>
under what conditions is a market at equlibrium
under what conditions is a market at equlibrium
a condition where a market price is established through competition such that the amount of goods or services sought by buyers is equal to the amount of goods or services produced by sellers
a condition where a market price is established through competition such that the amount of goods or services sought by buyers is equal to the amount of goods or services produced by sellers