What is ceteris paribus?

Ceteris paribus is a Latin phrase that means "all other things being equal" or "holding all other things constant." It is used in economics and other social sciences to isolate the effect of a specific variable by assuming that all other relevant factors remain unchanged. This allows researchers to analyze the relationship between two variables without the interference of other factors.

Ceteris paribus is a Latin phrase that means "all other things being equal" or "other things unchanged." It is used in economics and other social sciences to refer to the assumption that all factors other than the one being studied are held constant. This assumption allows researchers to isolate the effects of a single variable on a given outcome.

For example, an economist might study the effect of a change in the minimum wage on employment. In order to isolate the effect of the minimum wage, the economist would need to assume that all other factors that affect employment, such as the level of economic activity, remain constant. This assumption is necessary in order to draw any conclusions about the effect of the minimum wage on employment.