Question

What two economic forces must be equal in a competitive market for the price of a product to remain stable with no shortage or surplus?

Answer 1

Answer:

Quantity supplied and quantity demanded

Explanation:

The basic model of supply and demand is the workhorse of microeconomics. It helps us understand why and how prices vary and what happens when the state intervenes in a market. The model combines two important concepts: a supply curve and a demand curve.

OFFER:

The quantity offered of a good is the quantity that producers are willing to sell in a given period at a particular price. The amount offered is not what a company would like to sell, but the one that is definitely willing to sell.

DEMAND

It is the will and ability of an individual or consumer to acquire a good or service in a certain period of time and place. If an individual is only willing or able to acquire a good or service, then he is not in demand.

Answer 2

The two economic forces that must be equal in competitive market for the price of a product to remain stable with no shortage or surplus is : Quantity supplied and quantity demanded

Together, those 2 forces created the equilibrium for the market

hope this helps