partial equilibrium - definition in the Business English Dictionary - Cambridge Dictionaries Online

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English definition of “partial equilibrium”

partial equilibrium

noun [U]
 
 
ECONOMICS
a balance between supply and demand in just one part of an economy: Today's protectionists too often have partial equilibrium (domestic) economic models in mind when what's needed is general equilibrium (international) political economy models.
(Definition of partial equilibrium from the Cambridge Business English Dictionary © Cambridge University Press)
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