General Economy Equilibrium

Sonja Becic and Ivan Krstic

Ekonomika, Journal for Economic Theory and Practice and Social Issues, 2013, vol. 59, issue 2

Abstract: General economy equilibrium is a theoretical concept referring to a state in economy where there exists balance in economy in whole. Practically, this state exists when general social supply equals general social demand. Equilibrium may refer to separate markets or relative price equilibrium, or it can be global. In that case it binds to general price level, whwther it is stabile, raising or decending. Trend of general price level rising is present worldwide, along with instabilities in economies, which causes the century we live in to be procalimed as “inflation century”.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:ags:sereko:288804

DOI: 10.22004/ag.econ.288804

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