The practice of holding other factors constant in order to understand the effect of a specific variable is known as the:
A) scientific method.
B) ceteris paribus assumption.
C) invisible hand.
D) law of averages.

Question

Quizplus · Accepted Answer

The ceteris paribus assumption is used in economics and other disciplines to examine the effect of one variable on another, while all other variables are held constant. This helps in isolating the cause-and-effect relationship between variables.

The Practice of Holding Other Factors Constant in Order to Understand