what is ceterious peribous
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Its ceterus peribus
It is a Latin phrase meaning,"other things equal".
It is a Latin phrase meaning,"other things equal".
anubhav3734:
but what is its meaning in economics
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What is 'Ceteris Paribus'
In simple language, it means the economist can hold all variables in the model constant and tinker with them one at a time.
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In simple language, it means the economist can hold all variables in the model constant and tinker with them one at a time.
hope it helps
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