The Latin 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" means "other things being equal" in Latin. This term is used in economics to refer to the assumption that all other factors that could affect a situation are held constant or unchanged. It allows economists to isolate the impact of a single variable on a situation, which can help in making predictions and analyzing cause-and-effect relationships.

The Latin Term "Ceteris Paribus" Means