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The market equilibrium occurs when the quantity demanded equals the quantity supplied, at the price referred to the equilibrium price. The market equilibrium is balanced
The market equilibrium occurs when the quantity demanded equals the quantity supplied, at the price referred to the equilibrium price. The market equilibrium is balanced with the equilibrium and produces a quantity that matches the equilibrium price. Graphically, the equilibrium is shown where the demand and supply curves intersect. During the pandemic, people were stockpiling it because of the uncertainty and fear surrounding the pandemic. It lead to shortages and empty store shelves. Things like dairy, paper towels, meats, pantry items, and other items were essential to the extended period of quarantine. Toilet paper was needed the most according to people because of the pandemic. Toilet paper was in such high demand because people wanted to ensure they had essentials at home. Plus seeing others panic-buying could've influenced their behavior also. The toilet paper market returned as they adjusted to meet the increased demand. Over time people began to realize there was enough toilet paper available and the market balanced out again
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