Will Equilibrium in a Market Always Result in an Outcome

question 51

Essay

Will equilibrium in a market always result in an outcome that is economically efficient? Explain.

---

Definitions:

Outcome

The result or consequence of an action, process, or decision, which can be observed and measured.

Community Psychologists

Professionals focusing on the study and enhancement of individual well-being within community contexts, emphasizing social issues, community development, and social change.

Social Environments

The immediate physical and social setting in which people live or in which something happens or develops, including the surrounding culture, groups, and institutions influencing an individual's life.

Physical Environments

The external surroundings and conditions in which an organism lives and interacts.