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HOME | Definition of partial equilibrium (PARTIAL EQUILIBRIUM, Partial equilibrium)

  • Equality of supply and demand in only a subset of an economy's markets -- usually just one -- taking variables from other markets as given. ...
    http://www-personal.umich.edu/~alandear/glossary/p.html

  • A method of economic analysis that examines one or more sectors of an economy, taking what is happening in the rest of the economy as exogenous (in other words, not affected by the sectors being analyzed). Useful for detailed study of one or more sectors.
    http://450.aers.psu.edu/glossary_search.cfm

  • equilibrium of a physical system with respect to a single or several parameters x i . A system in PR with respect to the parameter x i , can stay non-equilibrium with respect to other parameters x k . ...
    http://www.endeav.org/evolut/age/sntut/sntut.htm

  • A partial equilibrium is a special case of the general economic equilibrium, where the clearance on the market of some specific goods is obtained independently from prices and quantities demanded and supplied on other goods' markets.
    http://en.wikipedia.org/wiki/Partial equilibrium




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