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Why Is the Word Equilibrium Used to Describe the Price

question 96

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Why is the word equilibrium used to describe the price determined by supply and demand in a market?


Definitions:

Instinctive Behaviors

Innate, fixed patterns of behavior in response to specific stimuli.

Myelination

The process of forming a myelin sheath around a nerve to allow it to transmit signals more rapidly.

Reticular Formation

A part of the brain involved in attention, sleep, and arousal.

Electrochemical

Pertaining to the processes that involve both electrical and chemical changes.

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