Question

Which of the following is correctly matched? Select one: a. equilibrium - balance of inputs and outputs b. steady state equilibrium - small fluctuations about an average condition c. dynamic equilibrium - small fluctuations about an average condition that changes gradually over time d. All of these are correctly matched.

Answer 1

Answer:

The correct answer is d. All of these are correctly matched.

Explanation:

In economics, an economic equilibrium is a state of the world in which economic forces are balanced and in the absence of external influences the values of economic variables do not change. It is the point at which the quantity demanded and the quantity offered are equal. A market equilibrium, for example, refers to the condition in which the market price is established through competition so that the amount of goods and services desired by buyers is equal to the amount of goods and services produced. by the sellers. This price is usually called the equilibrium price and tends to remain stable as long as demand and supply do not vary.