Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

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 noun from the Cambridge Business English Dictionary © Cambridge University Press)
Focus on the pronunciation of partial equilibrium

Word of the Day

friendship

a situation in which two people are friends

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