A consumer is said to be in equilibrium if ........

Economic Affairs NCERT

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A consumer is said to be in equilibrium, if

he is able to fulfil his need with a given level of income

he is able to live in full comforts with a given level of income

he can fulfil his needs without consumption of certain items

he is able to locate new sources of income

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Explanation:

A consumer is said to be in equilibrium when he feels that he “cannot change his condition either by earning more or by spending more or by changing the quantities of thing he buys”. As a rational person, to maximise his total utility, consumer being aware of his contraints adjusts according to the budget line and spends accordingly.