section_path: Supply and demand/Partial equilibrium
section_name: Partial equilibrium
paragraph_text: Partial equilibrium
  
  Partial equilibrium, as the name suggests, takes into consideration only a part of the market to attain equilibrium. Jain proposes (attributed to George Stigler): "A partial equilibrium is one which is based on only a restricted range of data, a standard example is price of a single product, the prices of all other products being held fixed during the analysis".