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Equilibrium

Equilibrium is an important concept in economics. Almost all of the studies and research conducted are based on determining the equilibrium of all the various aspects of the aggregate and individual economies. Explain what the term equilibrium means to you from an economic standpoint and why it is so important. Keep in mind that the definition offered in micro economics is not the same as in macroeconomics. Be sure to explain the difference(s). You may need to use outside sources (from the Internet). Cite the sources that you utilize. Also, offer one or two instances of how you personally attempt to achieve equilibrium in your own life.