Examlex
Peter's mental representation of Thanksgiving includes associations about turkeys, attitudes toward the holiday, and expectations about the weight he'll gain! These are all part of his ________ for the holiday.
Partial Equilibrium
Partial equilibrium is an analysis of the equilibrium position of a single market or sector within the wider economy, without considering interactions with other markets or sectors.
Substitutes
Two goods for which an increase in the price of one leads to an increase in the quantity demanded of the other.
General Equilibrium Analysis
Simultaneous determination of the prices and quantities in all relevant markets, taking feedback effects into account.
Partial Equilibrium Analysis
Determination of equilibrium prices and quantities in a market independent of effects from other markets.
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