question archive Describe the forces that move a market toward its equilibrium
Subject:MarketingPrice:2.88 Bought12
Describe the forces that move a market toward its equilibrium
Below are the two factors that pose the tendency of movements towards a state of equilibrium in the market;
1. Quantity surplus.
2. Quantity deficit.
An economy is said to be experiencing a surplus in quantity when the supply of commodities is higher than the demand for the respective items. In contrast, deficits in the amount of entities occur when the level of demand for various products is way high compared to the supply or production level of the items into the market.
These two factors determine the attainment of equilibrium in an economy.