Definition of Equilibrium point:
The optimum position of a market price that generates an equal amount of demand and supply for a product or service. Equilibrium is maintained by raising or lowering the price in response to changes in the supply or demand.
How to use Equilibrium point in a sentence?
- The marketing team was known for keeping all their products at the equilibrium point maximizing profit year after year and staying competitive in the market.
- You need to figure out what the equilibrium point will be and try to get to that number as quickly as you can.
- The equilibrium point was determined after hours of statistical analysis and even once that point was reached it was only theoretically meaningful.
Meaning of Equilibrium point & Equilibrium point Definition