What is an example of ceteris paribus? If the price of Coca-Cola falls, ceteris paribus, its demand will increase. Ceteris paribus means that other factors are not considered, or are considered to remain constant. Pepsi may react and reduce their prices as well, which may mean demand remains unchanged.

What is ceteris paribus means in economics?

all other things being unchanged or constant

Definition: This commonly-used phrase stands for ‘all other things being unchanged or constant‘. It is used in economics to rule out the possibility of ‘other’ factors changing, i.e. the specific causal relation between two variables is focused.

What is ceteris paribus quizlet?

Ceteris Paribus. A Latin term meaning “all other things constant”, or “nothing else changes”. The assumption in economics that nothing else changes in a given situation except for the stated change.

What is the meaning of paribus?

: if all other relevant things, factors, or elements remain unaltered.

How do you use ceteris paribus in a sentence?

(1) Ceteris paribus, a fast horse is better than a slow one. (2) Ceteris paribus, deteriorating terms of trade means that the real exchange rate value of the domestic currency will fall. (3) Ceteris paribus, the elimination of excess labor is more substantial in smaller and more highly leveraged firms .

Which example defines an economic activity?

The process of researching, purchasing and using products and services. For example, shopping and traveling are economic activities.

How do you use all things equal in a sentence?

All things being equal, children who get started on a more promising trajectory will end up better. All things being equal, they will receive new treatments more quickly than individuals whose treatments are approved through the standard process.

What is the meaning of all other?

Definition of any other

1 —used to refer to a person or thing that is not particular or specific but is not the one named or referred to Any other day but tomorrow would be okay. There weren’t any other children for us to play with.

What is the other things equal assumption?

In economics, the assumption of ceteris paribus, a Latin phrase meaning “with other things the same” or “other things being equal or held constant,” is important in determining causation. It helps isolate multiple independent variables affecting a dependent variable.

What is the meaning all things considered?

Definition of all things considered

: when all the good and bad parts of something are thought of All things considered, we’re pleased with how the project turned out. It was a pretty good vacation, all things considered.

Are taken into account synonym?

Alternate Synonyms for “take into account”:

allow; calculate; estimate; reckon; count on; figure; forecast.

How do you use let alone in a sentence?

Examples of let alone in a Sentence

I don’t have enough money for a new car, let alone a luxury sedan.

What means fair share?

a reasonable amount

Definition of fair share
: a reasonable amount He gets his fair share of attention, too.

What is the meaning of not lift a finger?

Refuse to exert oneself to help or perform an action. For example, Dad won’t lift a finger to help them financially, or Early in the war, America officially would not lift a finger. [ Mid-1900s]

What does it mean to lift a finger?

to make an effort to do something

Definition of lift a finger
: to make an effort to do something —usually used in negative statements I have so many chores to do, and my sister won’t lift a finger to help me. He never lifted a finger to try to improve his failing grades.

What’s a fine line?

Definition of fine line

: a very small difference There’s a fine line between being helpful and being intrusive. There’s sometimes only a very fine line between genius and madness.

What does lacuna mean in Latin?


Latin speakers modified lacus into lacuna and used it to mean “pit,” “cleft,” or “pool.” English speakers borrowed the term in the 17th century. It is usually pluralized as lacunae; however, lacunas is an accepted variant plural.

What does raw deal mean?

instance of unfair treatment

Definition of raw deal
: an instance of unfair treatment.

What is to strike a balance?

Definition of strike a balance

: to achieve a state in which different things occur in equal or proper amounts or have an equal or proper amount of importance trying to strike a balance between respecting the past and moving into the future He needs to strike a better balance between his work life and his family life.

Is out of consideration?

Taking something into consideration; due to something; on account of something. They’re going to act out of consideration of their obligation to shareholders, so don’t expect any philanthropy from them.

What is the past participle form of strike?


Word forms: plural, 3rd person singular present tense strikes , present participle striking , past tense, past participle struck , past participle stricken language note: The form struck is the past tense and past participle.

What does it mean best of both worlds?

Definition of the best of both worlds

: all the advantages of two different situations and none of the disadvantages I have the best of both worlds—a wonderful family and a great job.

Where did the phrase benefit of the doubt come from?

The expression the benefit of the doubt comes from the law; it stems from the philosophy of reasonable doubt that was first expounded in the 1700s. Reasonable doubt means the fair amount of certainty necessary to convict.

What does it mean when someone says they will give you the benefit of the doubt?

Definition of the benefit of the doubt

: the state of accepting something/someone as honest or deserving of trust even though there are doubts He might be lying, but we have to give him the benefit of the doubt and accept what he says for now.

What is the meaning of the idiom cutting corners?

Do something in the easiest or least expensive way; also, act illegally. For example, Cutting corners in production led to a definite loss in product quality, or If the accountant cuts corners the auditors are sure to find out.

What is an appropriate definition for the phrase back to square one Mcq?

: to start over His idea didn’t work, so he had to go back to square one.

What is get out of hand?

to become difficult to control: It was the end of term and the children were getting a little out of hand.

What is the meaning of go back to the drawing board?

to start over

Definition of go back to the drawing board
: to start over The company went back to the drawing board to make a better product.

What is the meaning of between a rock and hard place?

Faced with two equally dangerous or difficult choices or circumstances: “Trying to please two supervisors is like being between a rock and a hard place.” This phrase dates from the early twentieth century.

What is the meaning of put a cork in it?

to stop talking

Definition of put a cork in it
chiefly US, informal. —used as a rude way to tell someone to stop talking and especially to stop complaining Why don’t you put a cork in it! I’m sick of your whining!