Jämviktsprisvektorn

Jämviktsprisvektorn, translated as equilibrium price vector, is a concept in economics that describes the set of prices for a basket of goods and services that simultaneously clear all markets. In a simplified model with multiple interacting markets, each good or service has its own price. The equilibrium price vector represents the specific combination of these prices where the quantity demanded for each good equals the quantity supplied for that same good.

The existence and uniqueness of such a vector are central to general equilibrium theory. Economists use mathematical models to analyze how changes in factors like consumer preferences, technology, or resource availability can shift the equilibrium price vector. If the prices are not at the equilibrium levels, there will be either a surplus or a shortage in one or more markets, leading to price adjustments until equilibrium is re-established. The concept is fundamental for understanding how economies allocate scarce resources efficiently. It helps economists predict the impact of various economic policies and external shocks on the overall price level and the prices of individual goods.