Market Equilibrium Vs. Market Imbalance

FEA Working Paper No. 2010-03

8 Pages Posted: 19 Oct 2009 Last revised: 7 Jan 2010

See all articles by Mario Arturo Ruiz Estrada

Mario Arturo Ruiz Estrada

University of Malaya (UM) - Faculty of Economics & Administration (FEA)

Date Written: October 16, 2009

Abstract

This paper proposes a basic graphical and mathematical multidimensional approach to study the market behavior. Our basic assumption is that demand and supply is affected by a large amount of variables without any restriction or isolation among them such as the case of the Ceteris Paribus assumption applies into the market equilibrium analysis. Hence, all these variables that affect demand and supply always keeps in a dynamic imbalance state, it is mean that demand and supply can be affected by different internalities and externalities from economic forces, social forces, political forces, technological forces, environment forces, institutional forces and different economic agents (e.g. public sector -government-, private sector -firms-, consumers) behavior. Therefore, the study of the market behavior request alternative economic assumptions and economic models that available to explain closely the real world.

Keywords: econographicology, multi-dimensional graphs and microeconomics

JEL Classification: C02

Suggested Citation

Ruiz Estrada, Mario Arturo, Market Equilibrium Vs. Market Imbalance (October 16, 2009). FEA Working Paper No. 2010-03 . Available at SSRN: https://ssrn.com/abstract=1489832 or http://dx.doi.org/10.2139/ssrn.1489832

Mario Arturo Ruiz Estrada (Contact Author)

University of Malaya (UM) - Faculty of Economics & Administration (FEA) ( email )

Kuala Lumpur, 50603
Malaysia
+60126850293 (Phone)

HOME PAGE: http://ssrc.um.edu.my/

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