EQ's as you probably know, come in several different topologies - Graphic, parametric, paragraphic... They also vary in the number of bands that they control 2,4,9,...30 whatever.
An audio equalizer is a series of filters that cut or boost certain frequencies and there are a couple of different ways electronically to make these filters; passive and active. Passive filters use an RLC (resistor, Inductor and Capacitor) network to do the filtering (think of a crossover in a speaker) while and active filter uses an RC network and an Op-Amp. Both passive and active filters can be designed using a number of different approaches to makeing the circuit (Bessel, Butterworth,
Chebyshev et al) each of which have their own pros and cons.
Passive filters require some sort of amp on their output and that can be either discrete (tube or Transitor) or an Op-Amp. For example; The classic Pultec EQ uses RLC filters and a tube amp to drive the outputs. Conversly the EQ section of a new Mackie mixer uses RC networks and Op-amps.
Because inductors cost a little more, RLC networks are more expensive to make then active op-amp filters. Op-amps are really cheap and are used almost everywhere today except on some high end (very nice) EQ's.
A graphic equalizer allows you to simply boost or cut a bunch of pre-define frequencies. A parametric equalizer allows you to pick which frequencies you want to cut or boost as well as often, how wide the filter you use should be, high shelves, low shelves etc... there are a bunch of options on some of the better EQ's.
Do a little more research, an EQ used for mastering is not the right thing for tracking, one for tracking is not the right thing for EQing a stereo in a room. Figure you what you need and what you can afford (if you are looking to buy one) and go from there.
Kevin.