What occurs when the quantity supplied of a product equals the quantity demanded at a specific price?

When the quantity supplied of a product equals the quantity demanded at a specific price, the market is said to be in equilibrium. This means that the amount of the product that sellers want to sell matches exactly with the amount that buyers want to buy. At this point, there is no surplus or shortage, which helps keep prices stable. For example, if a store has 100 apples and customers want to buy exactly 100 apples at $1 each, the market is balanced. This balance is important because it helps businesses plan their production and ensures that consumers can find the products they want without delays or excess inventory.