what is equilibrium, from an economic perspective?
<answer> Can be static or dynamic and may exist in a single market or multiple markets. <context> BREAKING DOWN 'Economic Equilibrium '. Economic equilibrium can be static or dynamic and may exist in a single market or multiple markets. It can be disrupted by exogenous factors, such as a change in consumer preferences, which can lead to a drop in demand and consequently a condition of oversupply in the market.