| 单词 | general equilibrium |
| 释义 | general equilibrium The approach in economics of considering all markets in an economy simultaneously. For general equilibrium all markets must be in equilibrium, and no change of actions in any market must pay any agent. General equilibrium is contrasted with the partial equilibrium approach, in which some part of the economy is considered, neglecting what is happening in other markets. General equilibrium models are conceptually and mathematically more complex than partial equilibrium models. |
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