What is market equilibrium? Does the market always reach equilibrium?

A market equilibrium operates efficiently because all information regarding the market is known by both sellers and buyers. At market equilibrium, the number of outputs supplied and demanded is the same as the price is set at the current market price. An equilibrium market is the most ideal market but in reality, the market does not always reach equilibrium. Both buyers and sellers do not always have the available information and this results in a disequilibrium (shortage or surplus). The market will always move towards equilibrium but it does not always reach the point.