Market Equilibrium refers to a situation where the <u>goods </u><u>supplied </u><u>by producers is </u><u>equal </u><u>to the </u><u>goods demanded </u><u>by consumers. </u>
<h3>Market Equilibrium </h3>
At this price, the market is balanced in that goods supplied equal goods demanded.
When there is no market equilibrium, there will either be surpluses or deficits.
Market Equilibrium is important in a market because it allows for a balanced market which allows for the efficient transfer of goods and services.
•Definition of market equilibrium –The resulting balance between supply and demand is called a market equilibrium. A situation where for a particular good supply = demand. When the market is in equilibrium, there is no tendency for prices to change. We say the market-clearing price has been achieved.
•A market occurs where buyers and sellers meet to exchange money for goods.
•The price mechanism refers to how supply and demand interact to set the market price and amount of goods sold.
•At most prices, planned demand does not equal planned supply. This is a state of disequilibrium because there is either a shortage or surplus and firms have an incentive to change the price.
Technically a floodplain is created when the river floods carrying sediment with it. When the water evaporates or is absrobed into the ground the sediment which is carried along in the river wtaer is left behind creates a floodplain.
Divided up into an hourly rate, the earth rotates 15 degrees every hour (360/24). This number plays an important role in determining time zones. An important factor in determining time zones is the lines of latitude and longitude. Imaginary lines known as latitude and longitude divide the Earth.
