The Law Dictionary

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EQUILIBRIUM Definition & Legal Meaning

Definition & Citations:

State of stability. Condition where significant factors remain more or less constant over a period of time. Stability also measures a lack of inherent tendency for change. A market in equilibrium has an amount of goods that buyers wish to buy at the current price equal (or very near equal) to the amount of goods sellers want to sell at that price. Known also as steady state.


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