What is the term for the market price when there are no motivated buyers or sellers?

Study for the Certified General Appraiser Exam. Explore flashcards and multiple-choice questions with hints and explanations to prepare effectively. Get ready for your certification!

The term that refers to the market price when there are no motivated buyers or sellers is market equilibrium. This concept is based on the idea that in a state of equilibrium, the quantity of goods supplied is equal to the quantity of goods demanded, resulting in a stable market price. When there are no external pressures from motivated participants, the market operates in a balanced state where prices reflect an agreement between buyers and sellers without urgency or outside influence.

In contrast, market value relates to the price a willing buyer would pay and a willing seller would accept, typically under normal conditions in the open market. Common price is not a standard term used in economics or appraisal practices, and static price suggests a situation where prices do not change over time but does not specifically address the dynamics of supply and demand. Consequently, market equilibrium is the most accurate term given the conditions described in the question.

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