Partial equilibrium 


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Partial 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.Similar MatchesEquilibrium levelEquilibrium levelThe value taken on by an economic variable in equilibrium, as opposed either to some other value, or to its rate of change. Two cone equilibriumTwo cone equilibriumA freetrade equilibrium in the HeckscherOhlin 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 multicone equilibrium, will arise if countries' factor endowments are sufficiently dissimilar compared to factor intensities of industries. Contrasts with one cone equilibrium. One cone equilibriumOne cone equilibriumA freetrade equilibrium in the HeckscherOhlin 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 multicone equilibrium. Equilibrium rate of interestEquilibrium rate of interestThe interest rate that clears the market. Also called the tradeclearing interest rate. Multicone equilibriumMulticone equilibriumA freetrade equilibrium in the HeckscherOhlin Model in which prices are such that all goods cannot be produced within a single country, and instead there are multiple diversification cones. This, or a two cone equilibrium, will arise if countries' factor endowments are sufficiently dissimilar compared to factor intensities of industries. Contrasts with one cone equilibrium. Further SuggestionsEquilibriumEquilibrium exchange rate Equilibrium Disequilibrium Market equilibrium General equilibrium Balance of payments equilibrium Equilibrium price Nash equilibrium Equilibrium position Computable general equilibrium 
