Question

What is the ceteris paribus assumption of demand?​

Answer 1

Explanation:

Economists say the law of demand demonstrates that ceteris paribus (all else being equal), more goods tend to be purchased at lower prices. Or that, if demand for any given product exceeds the product's supply, ceteris paribus, prices will likely rise.

Answer 2

Answer:

Application of Ceteris Paribus

As another example, take the laws of supply and demand. Economists say the law of demand demonstrates that ceteris paribus, more goods tend to be purchased at lower prices. Or that, if demand for any given product exceeds the product's supply, ceteris paribus, prices will likely rise.

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