Advertisement Remove all ads

General Equilibrium - Economics

Advertisement Remove all ads
Advertisement Remove all ads
Advertisement Remove all ads
Definition

General equilibrium

Advertisement Remove all ads

Solution

In economics, general equilibrium theory attempts to explain the behavior of supply, demand, and prices in a whole economy with several or many interacting markets, by seeking to prove that the interaction of demand and supply will result in an overall general equilibrium.

Concept: Improtance of Macro Economic
  Is there an error in this question or solution?

APPEARS IN

Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×