Ceteris paribus means
A) all men are created equal.
B) wage parity between men and women is a worthy goal.
C) there are an infinite number of factors affecting each human decision and they change all the time.
D) economists isolate one or two factors that change when analyzing human decisions.

Question

Quizplus · Accepted Answer

Ceteris paribus is a Latin phrase that means "all other things being equal." In economics, it is used to isolate one or two variables while assuming that all other variables are held constant in order to analyze human decisions or events. Therefore, the correct answer is D - economists isolate one or two factors that change when analyzing human decisions.

Ceteris Paribus Means