ECONOMICS
OPPORTUNITY COST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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ceteris pluribus
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ceteris paribus
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cretrian paribus
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cretplum paribas
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Detailed explanation-1: -Ceteris paribus, literally “holding other things constant, ” is a Latin phrase that is commonly translated into English as “all else being equal."
Detailed explanation-2: -Ceteris paribus is a Latin phrase that means “all other things being equal.” Experts use it to explain the theory behind laws of economics and nature.
Detailed explanation-3: -Key Takeaways The assumption of ceteris paribus, a Latin phrase meaning “other things equal or held constant, ” helps isolate the effect of one variable on another.
Detailed explanation-4: -What is Ceteris Paribus. Definition: This commonly-used phrase stands for ‘all other things being unchanged or constant’. It is used in economics to rule out the possibility of ‘other’ factors changing, i.e. the specific causal relation between two variables is focused.
Detailed explanation-5: -Etymology. From economy, from Latin oeconomia, from Ancient Greek (oikonomía, “the study of the needs”)