What term is used for the quantity that is supplied and demanded at the equilibrium price?

The term that refers to the quantity supplied and demanded at the equilibrium price is known as the equilibrium quantity. This concept is essential in understanding market dynamics, as the equilibrium price is the point where the supply and demand curves intersect. At this price, the amount of goods that producers are willing to sell matches exactly the amount that consumers are willing to buy.

When the market operates at equilibrium, there is no excess demand or excess supply, which means that there are no pressures to change the price. The equilibrium quantity therefore reflects a stable condition in the market where both buyers and sellers are satisfied, illustrating an efficient allocation of resources.

The other terms do not accurately capture this specific relationship. Equilibrium demand refers specifically to the demand side at equilibrium without addressing the supply aspect. Market quantity is a more general term and does not specifically denote the equilibrium state. Surplus quantity indicates a situation where supply exceeds demand at a price higher than the equilibrium price, which is contrary to what is observed at equilibrium. Understanding the equilibrium quantity is crucial for analyzing market efficiency and adjustments following shifts in supply or demand.