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Meaning of “general equilibrium” in the English Dictionary

"general equilibrium" in Business English

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general equilibriumnoun [U]

uk   us  
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 from the Cambridge Business English Dictionary © Cambridge University Press)
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