The term "ceteris paribus" means:
A) that if event A precedes event B, A has caused B
B) that economics deals with facts, not values.
C) other things equal.
D) prosperity inevitably follows recession.

Question

Quizplus · Accepted Answer

"Ceteris paribus" is a Latin phrase that means "other things being equal" or "all other things held constant." It is often used in economics to isolate the effect of one variable by assuming that all other variables remain unchanged. Therefore, choice C is the correct answer. The other options are incorrect. Option A is the definition of causality, which is not related to ceteris paribus. Option B is a statement about the nature of economics, but it does not define the term ceteris paribus. Option D makes a generalized statement about the relationship between prosperity and recession, but it has nothing to do with ceteris paribus.

The Term "Ceteris Paribus" Means