Asked by Breanna Clayton on May 30, 2024
Verified
"Ceteris paribus" literally translated means, "buyer beware."
Ceteris Paribus
A Latin phrase meaning "all other things being equal," used in economics to isolate the effect of one economic variable from the influence of others.
- Understand the concept of ceteris paribus and its utilization in economic frameworks.
Verified Answer
JD
Jordy DominguezMay 30, 2024
Final Answer :
False
Explanation :
"Ceteris paribus" is a Latin phrase that literally translates to "all other things being equal," not "buyer beware."
Learning Objectives
- Understand the concept of ceteris paribus and its utilization in economic frameworks.