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Ceteris paribus is a Latin phrase that means 'all other things being equal' or 'holding all other factors constant.' It is a crucial concept in economic analysis that allows economists to isolate the effect of one variable on another, while assuming that all other relevant factors remain unchanged.
- Ceteris Paribus - (Principles of Macroeconomics) - Vocab, Definition ...
Economists use the concept of ceteris paribus to isolate the...
- Ceteris Paribus - (Principles of Macroeconomics) - Vocab, Definition ...
The term "ceteris paribus" is often used in economics to describe a situation where one determinant of supply or demand changes while all other factors affecting supply and demand remain unchanged.
Economists use the concept of ceteris paribus to isolate the effect of a single variable on an economic outcome by assuming that all other relevant factors remain constant. This allows them to establish a clear causal relationship between the variable of interest and the observed change, rather than having the results confounded by the ...
Example of Ceteris Paribus in Economics. An increase in interest rates will ‘ceteris paribus’ cause the demand for loans to fall. (Higher interest rates increase the cost of borrowing so there will be less demand for loans. However, if confidence was high, people might still want to borrow more.
25 Ιουν 2023 · Ceteris Paribus is a Latin phrase that means “all other things being equal.” In economics, it is used to indicate that the effects of a particular change on a variable are being considered while holding all other factors constant.
1 Ιαν 2017 · The Latin phrase ‘ceteris paribus’, which translates as ‘other things the same’, is much invoked by economists. Its popularity stems from its prominent use by Alfred Marshall (1920, pp. xiv–xv, 366–70), who invented the metaphor of...
2 Φεβ 2022 · Ceteris Paribus Example. For example, when determining the cause of an increase in demand for a product, we could say that the price of a complementary product increases, Ceteris Paribus, then the demand will decrease.
