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market equilibrium
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market equilibrium


  a situation where goods buyers wish to purchase equals goods sellers wish to sell based on prevailing prices
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Notes:
Generally the term "market equilibrium" implies that prices are at an efficient level. For example, if the price of wheat were set inefficiently low, farmers might leave it rotting in the field while others would want it at a higher prices that would encourage the farmers to harvest it. If a decentralized market sets the price of wheat, it will tend towards an efficient equilibrium price.
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Associated words [difficulty]:   market equilibrium , supply and demand [7] , demand curve [9] , supply and demand [7] , demand curve [9]
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Most commonly used in these subjects:   Public Policy & Politics, Business, Personal Finance
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