The Latin expression "ceteris paribus": is essential in ______.
A) collecting data.
B) identifying sunk costs.
C) evaluating theories.
D) recognizing scarcity.
E) developing spurious relationships.

Question

Quizplus · Accepted Answer

Ceteris paribus means "all other things being equal" and is commonly used in economics when evaluating theories. It allows for the isolation of specific factors or variables to better understand their impact on an outcome.

The Latin Expression "Ceteris Paribus": Is Essential in ______