A market is in equilibrium when?

Economics

WAEC 2018

A. there is no government intervention
B. the demand is the same as the supply
C. buyers and sellers are free to sell more goods
D. there is no free entry and exit

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Correct Answer: Option B

Explanation

Market equilibrium is a market state where the supply in the market is equal to the demand in the market. Theequilibrium price is the price of a good or service when the supply of it is equal to the demand for it in themarket.

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A market is in equilibrium when?

Correct Answer: Option B

Explanation

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