The condition that exists when all markets in an economy are in simultaneous equilibrium is known as

A) market equity.
B) Pareto efficiency.
C) partial equilibrium.
D) general equilibrium.

General Equilibrium

A state in an economy where all markets are in equilibrium simultaneously, and the decisions of consumers and producers are perfectly coordinated.

Pareto Efficiency

An economic state where resources are allocated in a way that it is impossible to make one individual better off without making another individual worse off.

Simultaneous Equilibrium

A situation in which multiple markets or economic variables reach equilibrium at the same time, with interdependencies considered.