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English definition of “equilibrium”

equilibrium

noun [S or U]
 
 
/ˌiːkwɪˈlɪbriəm/ ECONOMICS
a situation in which an economy is balanced and not experiencing large changes, for example when the number of goods that people want to buy is similar to the number of goods being offered: equilibrium between sth and sth Raising the prices we charge the consumer would enable us to raise wages until we reach an equilibrium between supply and demand.equilibrium in sth Saudi Arabia has promised to make every effort to ensure equilibrium in the oil industry and to stabilize prices. → See also general equilibrium, market equilibrium, partial equilibrium
(Definition of equilibrium from the Cambridge Business English Dictionary © Cambridge University Press)
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