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Static equilibrium (economics), the intersection of supply and demand in any market; Sunspot equilibrium, an economic equilibrium in which non-fundamental factors affect prices or quantities; Underemployment equilibrium, a situation in Keynesian economics with a persistent shortfall relative to full employment and potential output
When the ecological economics subdiscipline was established, Herman Daly's 'preanalytic vision' of the economy was widely shared among the members who joined in: The human economy is an open subsystem of a finite and non-growing ecosystem (earth's natural environment), and any subsystem of a fixed nongrowing system must itself at some point ...
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.
Whereas in a static equilibrium all quantities have unchanging values, in a dynamic equilibrium various quantities may all be growing at the same rate, leaving their ratios unchanging. For example, in the neoclassical growth model, the working population is growing at a rate which is exogenous (determined outside the model, by non-economic forces).
However, there is no hard and fast definition as to what is classified as "long" or "short" and mostly relies on the economic perspective being taken. Marshall's original introduction of long-run and short-run economics reflected the 'long-period method' that was a common analysis used by classical political economists.
In economics, comparative statics is the comparison of two different economic outcomes, before and after a change in some underlying exogenous parameter. [1] As a type of static analysis it compares two different equilibrium states, after the process of adjustment (if any). It does not study the motion towards equilibrium, nor the process of ...
A fixed budget and a static budget are the same thing. Unlike flexible budgets, static or fixed budgets predict income and expenses in advance. Income is anticipated to stay the same and as a ...
In finance, a position is the amount of a particular security, commodity or currency held or owned by a person or entity. [1]In financial trading, a position in a futures contract does not reflect ownership but rather a binding commitment to buy or sell a given number of financial instruments, such as securities, currencies or commodities, for a given price.