Equilibrium

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Equilibrium

The stable state of the system. See: Attractor.

Equilibrium

A state of stable prices brought about by the rough equality of supply and demand. This applies for consumer goods, securities, and most other goods and services.

equilibrium

a state of balance with no tendency to change. See EQUILIBRIUM MARKET PRICE, EQUILIBRIUM LEVEL OF NATIONAL INCOME, DISEQUILIBRIUM.
References in periodicals archive ?
In order to answer this problem successfully (choice a), not only must students be familiar with the definitions of the concepts of vector operations, resolving forces, and static equilibrium, but also, importantly, they must understand the implications of the interactions among them.
Ecological footprint assessment (EFA) is an example of a globally applied static equilibrium method.
The static equilibrium price and production (aggregate and per firm) were identified (these, and values derived from them, are referred to as "nominal price", etc, in what follows).
They cover physics and measurement, motion and its laws, vectors, circular motion and other notions from Newton, the energy of a system conservation of energy, linear momentum and collisions, rotation of a rigid object about a fixed axis, angular momentum, static equilibrium and elasticity, universal gravitation, fluid mechanics, oscillatory motion, wave motion, sound waves, superposition and standing waves, temperature, the first and second laws of thermodynamics, the kinetic theory of gases, heat engines, and entropy.
To analyze the impacts of monetary policy forces Keynes to move beyond the static equilibrium model, to consider how policy affects short-period and long-period expectations--which he examines in several places in the General Theory and concludes that the effects are unpredictable and could be counterproductive.
It is assumed that the system is at static equilibrium such that [[theta].sub.cm] = [[theta].sub.0].
Third, when they do exist, equilibria under conditional dynamic contracts yield a Pareto-improvement over static equilibrium contracts and the optimal contract charges lower premiums to agents with better accidental histories.
Socialist central planning cannot work because it attempts the impossible: using a static equilibrium model to capture unfathomably complex inputs and outputs characterized by dynamic, constantly shifting equilibria.
We need not endorse the idea of a final, static equilibrium as more than what Vaughn has referred to as a "metaphor" of neoclassical economics (Vaughn, 1994,166).
* A divided banking industry has a static equilibrium, in which excessive lending and/or money creation are the norm and the industry consequently suffers ongoing losses due to crises and/or high inflation.
A characteristic of all closed systems is that they have an inherent tendency to move towards a static equilibrium and maximum entropy.
Describing that early thinking about development, Rodan stated that: "not traditional static equilibrium theory but an analysis of the disequilibrium growth process is what is essential for understanding economic development" (Ibid., p.