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Equilibrium |
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Equilibrium1. A state of balance between offsetting forces for change, so that no change occurs. 2. In competitive markets, equality of supply and demand.EquilibriumThe stable state of the system. See: Attractor.Equilibrium Similar MatchesEquilibrium positionEquilibrium positionSame as equilibrium level, though perhaps of several variables at once, perhaps as displayed in a graph. One cone equilibriumOne cone equilibriumA free-trade equilibrium in the Heckscher-Ohlin Model in which prices are such that all goods can be produced within a single country, and there is only one diversification cone. This will arise if countries' factor endowments are sufficiently similar compared to factor intensities of industries. Contrasts with multi-cone equilibrium. Computable general equilibriumComputable general equilibriumRefers to economic models of microeconomic behavior in multiple markets of one or more economies, solved computationally for equilibrium values or changes due to specified policies. The equations are anchored with data from the countries being modeled, while behavioral parameters are either assumed or adapted from estimates elsewhere. Two cone equilibriumTwo cone equilibriumA free-trade equilibrium in the Heckscher-Ohlin Model in which prices are such that all goods cannot be produced within a single country, and instead there are two diversification cones. This, or a multi-cone equilibrium, will arise if countries' factor endowments are sufficiently dissimilar compared to factor intensities of industries. Contrasts with one cone equilibrium. Equilibrium priceEquilibrium priceThe price when the supply of goods matches demand. Further SuggestionsBalance of payments equilibriumDisequilibrium Equilibrium rate of interest Market equilibrium General equilibrium Partial equilibrium Equilibrium level Equilibrium exchange rate Nash equilibrium Multi-cone equilibrium |
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