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  2. Economic equilibrium - Wikipedia

    en.wikipedia.org/wiki/Economic_equilibrium

    This will tend to put downward pressure on the price to make it return to equilibrium. Likewise where the price is below the equilibrium point (also known as the "sweet spot" [3]) there is a shortage in supply leading to an increase in prices back to equilibrium. Not all equilibria are "stable" in the sense of equilibrium property P3.

  3. Cobweb model - Wikipedia

    en.wikipedia.org/wiki/Cobweb_model

    The equilibrium price is at the intersection of the supply and demand curves. A poor harvest in period 1 means supply falls to Q 1 , so that prices rise to P 1 . If producers plan their period 2 production under the expectation that this high price will continue, then the period 2 supply will be higher, at Q 2 .

  4. Competitive equilibrium - Wikipedia

    en.wikipedia.org/wiki/Competitive_equilibrium

    A competitive equilibrium (CE) consists of two elements: A price function . It takes as argument a vector representing a bundle of commodities, and returns a positive real number that represents its price. Usually the price function is linear - it is represented as a vector of prices, a price for each commodity type.

  5. General equilibrium theory - Wikipedia

    en.wikipedia.org/wiki/General_equilibrium_theory

    In partial equilibrium analysis, the determination of the price of a good is simplified by just looking at the price of one good, and assuming that the prices of all other goods remain constant. The Marshallian theory of supply and demand is an example of partial equilibrium analysis.

  6. Supply and demand - Wikipedia

    en.wikipedia.org/wiki/Supply_and_demand

    Supply chain as connected supply and demand curves. In microeconomics, supply and demand is an economic model of price determination in a market.It postulates that, holding all else equal, the unit price for a particular good or other traded item in a perfectly competitive market, will vary until it settles at the market-clearing price, where the quantity demanded equals the quantity supplied ...

  7. Dynamic stochastic general equilibrium - Wikipedia

    en.wikipedia.org/wiki/Dynamic_stochastic_general...

    Dynamic stochastic general equilibrium modeling (abbreviated as DSGE, or DGE, or sometimes SDGE) is a macroeconomic method which is often employed by monetary and fiscal authorities for policy analysis, explaining historical time-series data, as well as future forecasting purposes. [1]

  8. IS–LM model - Wikipedia

    en.wikipedia.org/wiki/IS–LM_model

    An increased deficit by the national government shifts the IS curve to the right. This raises the equilibrium interest rate (from i 1 to i 2) and national income (from Y 1 to Y 2), as shown in the graph above. The equilibrium level of national income in the IS–LM diagram is referred to as aggregate demand.

  9. Market equilibrium computation - Wikipedia

    en.wikipedia.org/wiki/Market_equilibrium_computation

    Market equilibrium computation (also called competitive equilibrium computation or clearing-prices computation) is a computational problem in the intersection of economics and computer science. The input to this problem is a market , consisting of a set of resources and a set of agents .