Question

Difference between partial and general equilibrium

Answer 1

Explanation:

The main difference of partial equilibrium and general equilibrium is the determination of price and quantity in the market where by partial deal with only one market while general deal with the market in the economy and their interaction.

Thanks!!

Answer 2

Answer:

=> Partial equilibrium is what you solve for in a supply and demand model. It means there is equilibrium in one market. The price of that good has adjusted so the quantity demanded equals the quantity supplied in the cases of a competitive markets. General equilibrium means that all markets are in equilibriums.✨✨✨

Thanks☺️✨