|
|
Equilibrium position |
|
|
|
 Home Site Map Add Term Search About Us Contributors |
Equilibrium positionSame as equilibrium level, though perhaps of several variables at once, perhaps as displayed in a graph.Similar MatchesEquilibrium exchange rateEquilibrium exchange rateExchange rate at which demand for a currency is equal to the supply of the currency in the economy. Partial equilibriumPartial equilibriumEquality of supply and demand in only a subset of an economy's markets -- usually just one -- taking variables from other markets as given. Partial equilibrium models are appropriate for products that constitute only a negligibly small part of the economy. They are used routinely (not always appropriately) for analysis of trade policies in single industries. Contrasts with general equilibrium. EquilibriumEquilibriumThe stable state of the system. See: Attractor. General equilibriumGeneral equilibriumEquality of supply and demand in all markets of an economy simultaneously. The number of markets does not have to be large. The simplest Ricardian model has markets only for two goods and one factor, labor, but this is a general equilibrium model. Contrasts with partial equilibrium. DisequilibriumDisequilibrium1. Inequality of supply and demand. 2. A untenable state of an economic system, from which it may be expected to change. Further SuggestionsComputable general equilibriumTwo cone equilibrium Nash equilibrium Equilibrium Equilibrium level One cone equilibrium Market equilibrium Equilibrium rate of interest Equilibrium price Balance of payments equilibrium Multi-cone equilibrium |
|
|
|