Category: Class 11 Microeconomics

Market Equilibrium Under Perfect Competition and Effects of Shift in Demand And Supply | Chapter 13 | Class XI | Economics |

Concept of Market Equilibrium is defined as a state of the market when demand for a commodity is equals to its supply corresponding to a particular price. Thus, in a state of equilibrium market demand is equals to market supply of the commodity. There is neither excess demand nor excess supply. Price in the market
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