Question

On a supply and demand graph, equilibrium is the point where:

Answer 1

Answer:

the two curves meet

Explanation:

In the economy, more specifically when it comes to the demand and supply, the equilibrium point is where the two curves meet. At this point, the demand equals the supply on the market. This basically means that how much is demanded on the market, the exact same amount if produced and supplied on the market, thus there's no shortage, nor surplus of products on the market, leading to an ideal situation, for both the consumers and producers.