What is Ceteris peribus in economics?

All other things being equal

“Ceteris paribus” is a Latin phrase that translates to “all other things being equal” or “holding other things constant.” It is often used in economics and other fields to isolate the impact of a specific variable while assuming that all other relevant factors remain unchanged. In economic analysis, for example, when discussing the effect of a change in one variable on another, economists might use the phrase “ceteris paribus” to indicate that they are examining the relationship between those two variables while assuming that all other factors that could influence the outcome are held constant.

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