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Answer:
The equilibrium price is the only price at which consumers' and producers' plans coincide—that is, when the quantity consumers want to buy of a commodity, quantity requested, equals the quantity producers want to sell, quantity supplied. The term "equilibrium" refers to a state of balance. There is no motivation for a market to shift away from its equilibrium price and quantity if it is at its equilibrium price and quantity.
When there is no scarcity or surplus of a product on the market, it is said to be in equilibrium quantity. When supply and demand collide, the amount of an item that customers desire to buy is equal to the amount that producers are willing to supply.
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