Economic Equilibrium

Economic equilibrium is a condition through which economic forces are balanced. These economic variables will likely be unchanged from their equilibrium values inside the absence of outside influences. Economic equilibrium also be defined as the point where supply equals demand for a product – the actual equilibrium price is where the hypothetical supply along with demand curves intersect. The term ‘economic equilibrium’ can even be applied to many variables, such because the interest rate that enables for the growth of the banking and non-financial industry.