Partial equilibrium

Noun

Word Frequency: 0.2

Definitions

1.NounA state of equilibrium as analysed in a specific part of an economy while ignoring the possible effects of changes in this part on the rest of the economy.

Synonyms

general equilibrium static equilibrium market equilibrium equilibrium price balance of trade price stability trade balance dual economy purchasing power parity bertrand-edgeworth model marginal analysis budget constraint

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