When supply meets demand, the market reaches a state of equilibrium. This means that the quantity of goods or services provided by suppliers matches the quantity demanded by consumers.
The equilibrium price is the market price at which supply and demand are perfectly balanced. At this price, there is no excess supply or excess demand in the market.
Therefore, the correct answers are:
- equilibrium price
What is achieved when supply meets demand?
o market price
o equilibrium price
o quantity price
o relative price
1 answer
1 answer