The New Dictionary of Cultural Literacy, Third Edition. 2002.
equilibrium
In economics, a state of the economy in which for every commodity or service (including labor), total supply and demand are exactly equal. Equilibrium is never actually attained; it is approximated by movements of the market.
‡ Keynesian economics departed from conventional economic theory in demonstrating that economic equilibrium and full employment need not occur together. Therefore, as a system tends toward equilibrium, it might not eliminate unemployment.
