Definitions for "EQUILIBRIUM POINT"
a point to which a system tends to return following some perturbation; a given system may have multiple equilibrium points.
The price at which the quantity supplied by sellers equates to the quantity demanded by buyers.
A point which is invariant under the flow for a given dynamical system. It is the graph of a constant solution. One finds equilibrium points by finding where the right hand sides of the given system of differential equations are all zero, i.e. where there is no change in the dependent variables.