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How is it possible to have perfect balance of supply and demand?

That is, e.g. the right amount of workforce compared to the amount of work.

Background (as asked by Giskard in the comments):

  • It's evident that markets have inefficiencies. This occurs every time there's unemployment or when there's surplus production, for example.

  • The question is then about whether it's possible to have perfectly balanced labour markets and supply vs production and how.

It should be evident that there exists examples where this is true. For example, look to hire two people, and allow only two applications to come in, allocate positions at a college based on current job openings and keep updating the number, produce products only based on orders. These are very simplified cases though.

Is a perfect balance possible in larger real world scenarios?

Definitions:

supply of a thing (e.g. labour or product) is the amount of units supplied

demand of a thing (e.g. for labour or products) is the amount of units demanded

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  • $\begingroup$ 1. Can you clarify what you mean by "perfect balance of supply and demand"? $\endgroup$
    – Giskard
    Oct 9, 2023 at 7:17
  • $\begingroup$ 2. Can you please support your claim with a reference that it is possible to have this? Provide a reference that gives context. Is this claim true in a theoretical model of a simplified economy? Is it claimed about the real world by someone? $\endgroup$
    – Giskard
    Oct 9, 2023 at 7:18
  • $\begingroup$ To be clear, I asked for a definition and a reference, of which you have provided none with your edit. $\endgroup$
    – Giskard
    Oct 12, 2023 at 6:31
  • $\begingroup$ @Giskard It should be evident that there exists examples where this is true. For example, look to hire two people, and allow only two applications to come in, allocate positions at a college based on current job openings and keep updating the number, produce products only based on orders. These are very simplified cases though. $\endgroup$
    – mavavilj
    Oct 13, 2023 at 6:25
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    $\begingroup$ I think you don't mean "demand" and "supply" in the sense that economists use these words, but it is impossible to say because you do not define the words and also do not link to a definition. $\endgroup$
    – Giskard
    Oct 13, 2023 at 6:35

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