Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “general equilibrium”

general equilibrium

noun [U]    
ECONOMICS a theory that tries to explain the behaviour of supply, demand, and prices in the economy as a whole: The general equilibrium method is becoming an essential tool for the analysis of trade and other issues.
(Definition of general equilibrium noun from the Cambridge Business English Dictionary © Cambridge University Press)
Focus on the pronunciation of general equilibrium

Word of the Day

workmanship

the skill with which something was made or done

Word of the Day

Blog

Read our blog about how the English language behaves.

Learn More

New Words

Find words and meanings that have just started to be used in English, and let us know what you think of them.

Learn More