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Describe how the forces of demand and supply theoretically operate in a free market economy to acheive economic equilibrium.

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Economic equilibrium is when the market forces of supply and demand are in a steady state. This means they should be equally balanced, without any further external interference or disruption.

Supply and demand can, at least according to theory, contribute to achieving this state of economic equilibrium. The theory of supply and demand suggests that both of these forces influence each other. Once there is demand for a certain thing, businesses...

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