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)