In a partial equilibrium model, you are ignoring feedback that may result from related markets. ... In a general equilibrium model, feedback from other markets is considered to account for the fact that exogenous shocks occurring in other markets have implications for the market in question.
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Partial and general equilibrium difference
In a partial equilibrium model, you are ignoring feedback that may result from related markets. ... In a general equilibrium model, feedback from other markets is considered to account for the fact that exogenous shocks occurring in other markets have implications for the market in question.