Equilibrium means equality or the balance of something, so partial equilibrium would mean that something is either partially equal or balanced as a whole, or only parts of something is balanced, while other parts are not equal.

James V Stout has written:

'Direct comparison of general equilibrium and partial equilibrium models in agriculture' -- subject(s): Agriculture, Econometric models, Equilibrium (Economics)

vapor pressure

stable and unstable

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Abeer Aamir

Equilibrium is the state of balance between forces, influences.

Any economy where equilibrium condition prevails is said to be prosperous. The state of equilibrium is found in several aspects of economics.

Market Equilibrium

Competitive Market Equilibrium

General Equilibrium

Lindahl Equilibrium

Partial Equilibrium

Market Equilibrium:

In this situation, goods produced are equal to the goods consumed.

Competitive Market Equilibrium:

CME includes a sector of policies and allocation is done in such a way that each traders maximises his profit function.

General Equilibrium:

General equilibrium is the study of Supply and demand prices.

Lindahl Equilibrium:

In this situation, individuals have to pay for any public good according to the marginal benefits they can draw from the public goods.

Partial Equilibrium:

PE is a state in an economy where market is cleared of some specific goods. The market clearance is obtained when the price of all substitutes and complements as well as income levels of the consumers are in variable.