Meaning of “partial equilibrium” in the English Dictionary

business-english dictionary

"partial equilibrium" in Business English

See all translations

partial equilibriumnoun [ U ]


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)