A market is said to be in equilibrium when?

A market is said to be in equilibrium when the demand and supply curves intersect, that is, when the upward and downward slopes find a point of intersection. The demand curve is the mapping of how demand for a product or service changes with price. The demand curve exhibits a downward curve when price is on the vertical axis and demand is on the horizontal axis in a graph. A supply curve is the mapping of how supply varies with price but shows an upward slope with price on the vertical axis and supply on the horizontal axis.