You can take a look at this Redbook http://www.redbooks.ibm.com/abstracts/sg248076.html?Open particularly chapter 1 "An introduction to the Liberty profile" to learn more about Liberty Profile.
As for the programming models supported (which you can check on the same chapter), depending on the exact versions of EJB, JSF and JPA you need to work with, Liberty could, our could not be a fit for development. Also, in the same chapter you can read about the compatibility between Liberty Profile and the full Profile.
You can find also this post helpful https://www.ibmdw.net/wasdev/2013/05/20/alasdair_nottingham_talks_about_what_makes_liberty_different/