Question

Ceteris paribus means: select one:
a. Allowing all other things to change.
b. Making value judgments.
c. All other things unchanged.
d. Differentiating between macroeconomics and microeconomics.

Answer 1

Ceteris paribus, a Latin phrase, means “All other things unchanged” so option C) is the correct one.  

This term is used in science to explain very complex situations by indicating that all things remain the same except the variable object of study. The term is also used in economics when comparing variables that remain constant with another one that is not constant.