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They are called "general equilibrium" because they are based on the fundamental idea of free market economics: that the economy consists of a huge number of separate equilibria between supply and demand and that all these markets clear, or match supply with demand, at once.
They are called "general equilibrium" because they are based on the core idea of market economics: the economy consists of a huge number of separate equilibria between supply and demand and all these markets "clear," or match supply with demand, at once.
Similar(58)
The PA demanded at once that the "international community not legitimise the actions of Hamas" but also made clear that in the long run "there must be some sort of dialogue and reconciliation with Hamas in order to avoid the loss of Gaza and the break-up of the territories".
Naipaul's scrupulous compliance with all of his biographer's demands, French writes, was "at once an act of narcissism and humility".
The demand seems at once imperious and insensitve.
But if many workers across many different industries were to demand protection at once, the selfish appeal of such a shield would fade.Because hardship from globalisation is so difficult to distinguish from hardship in general, it would be open season to put up trade barriers in industry after industry.
But watching 8 of the 15 new episodes — the biggest binge I could manage before deadline — it seemed likely that the on-demand, all-at-once possibilities of online streaming had helped lead this groundbreaking comedy's creator, Mitch Hurwitz, and his colleagues down a bad path.
Her Siren — astonishingly confident in her facial and physical allure — was bold, demanding, rapacious, at once icy and hot.
Some companies will handle multiple on-demand services at once.
Nor should we demand a response at once.
If all the customers demand their money at once, as would be the case in Cyprus without controls, the banks go under.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com