Results for tag: "Partial Equilibrium"

Partial equilibrium is an economic concept that describes a market in which the price of a single good or service is determined by the demand and supply of that good or service, while the prices of other goods or services remain constant. It is a simplified model of a market that does not take into account the effects of changes in the price of one good or service on the demand and supply of other goods or services. Partial equilibrium is used to analyze the effects of changes in the demand and supply of a single good or service on the price of that good or service. It is also used to analyze the effects of taxes, subsidies, and other government policies on the price of a good or service. Examples of companies in the partial equilibrium market include Apple, Microsoft, Amazon, Walmart, and McDonald's. These companies produce goods and services that are affected by changes in the demand and supply of their products, and the prices of their products are determined by the demand and supply of those products. Show Less Read more