Abstract
This paper looks at a dynamic process in a partial market where there are lags in the adjustment of the consumers as a group, and where the firms are not perfectly equal. What I model is the movements of price and realized quantum of a market good given the allocation of the demand and supply curves. A major conclusion is that given the circumstances, the system will always converge to the equilibrium point in the long run, but if shocks occur, the market allocation of price and realized quantum of the good may very well remain in disequilibrium. Unless one studies a particular market, it is not possible to make a precise general description of how the movements in disequilibrium behave quantitatively and describe the speed of convergence to equilibrium. However, qualitative conclusions are more easily drawn on a general basis.