Word History Etymology Latin aequilibrium, from aequilibris being in equilibrium, from aequi- + libra weight, balance First Known Use 1608, in the meaning defined at sense 1a Time Traveler The first known use of equilibrium was in 1608 See more words from the same year ...
7.(Physiology)physiola state of bodily balance, maintained primarily by special receptors in the inner ear 8.(Economics) the economic condition in which there is neither excess demand nor excess supply in a market [C17: from Latinaequilībrium,fromaequi-equi- +lībrapound, balance] ...
Equilibrium is a term commonly used in various fields such as economics, chemistry, physics, and even psychology. It refers to a state of balance where opposing forces or factors are equal, resulting in stability or a lack of change.Understanding the concept of equilibrium is essential to compre...
In the actual market, equilibrium is very hard to achieve, but the same interaction between supply and demand can occur: demand for food during a natural disaster when supply is low automatically raises the price. Let’s look at an example. ...
What is an externality in economics? Provide an example of an economic externality. What is the meaning of "economics" of a particular product? Imagine a simple economy with no government, taxes, imports or exports. Suppose that the marginal propensity to consumer (MPC) is 0.75 and autonomous...
Economics Onlinehas the following definition of the term: “Equilibrium is a state of balance in an economy, and can be applied in a number of contexts. In micro-economics, market equilibrium price is the price that equates demand and supply.” ...
The meaning of EQUILIBRIUM is a state of intellectual or emotional balance : poise. How to use equilibrium in a sentence. Did you know?
The meaning of the notion of statistical equilibrium in economics is discussed as well as its relevance for economic theory. A simple agent-based model of taxation and redistribution is presented. Its invariant equilibrium distribution is the generalized Pólya sampling distribution. It turns out that...
The concept of equilibrium is of enormous significance in economics and is central to economic analysis. Volume I provides historical perspectives on the origins, development and criticisms of the idea of economic equilibrium and explains the meaning of modern equilibrium theory and the methods and tec...
"absence or destruction of equilibrium," 1840; seedis-+equilibrium. Specific sense in economics is by 1927. Advertisement Trends ofequilibrium Shareequilibrium ‘cite’ https://www.etymonline.com/word/equilibrium Etymology of equilibrium by etymonline Harper, D. (n.d.). Etymology of equilibrium....