A system is said to be social equilibrium when there is a dynamic working balance among its interdependent parts (Davis & Newstrom, 1985). Each subsystem will adjust to any change in the other subsystems and will continue to do so until an equilibrium is retained. The process of achieving equilibrium will only work if the changes happen slowly, but for rapid changes it would throw the social system into chaos, unless and until a new equilibrium can be reached.
From The Desk of Dr. Adnan Iqbal
A system is said to be social equilibrium when there is a dynamic working balance among its interdependent parts.
A system is said to be social equilibrium when there is a dynamic working balance among its interdependent parts.
Talcot Parsons
The critical time is a politent of social workers.
If the prices are set below the level of equilibrium, the quantity supplied will be less than the quantity demanded. Introduction of minimum prices will lead to hoarding of goods, thus social welfare falls.
C. E. Russett has written: 'Concept of equilibrium in American social thought'
Nikolaus Horster has written: 'Principles of exchange and power' -- subject(s): Social institutions, Exchange, Equilibrium (Economics), Value, Power (Social sciences)
Static is the social characteristic of or relating to a society that has reached a state of equilibrium so that no changes are taking place
Berhanu Woldekidan has written: 'Welfare impact of export processing enterprises on a small island economy' -- subject(s): Economic conditions, Export processing zones, Industries, Social aspects, Social aspects of Export processing zones, Social aspects of Industries 'The general equilibrium model of Papua New Guinea' -- subject(s): Economic conditions, Econometric models, Equilibrium (Economics)
Three important cases: Total productive surplus is maximised at consumer equilibrium. Total profit is maximised when marginal cost = marginal benefit. Social welfare is maximised where marginal social cost = marginal social benefit.
equilibrium conversion is that which is at equilibrium concentration
Joan Esteban has written: 'The social viability of money' -- subject(s): Equilibrium (Economics), Mathematical models, Money